Huntington Bancshares Incorporated to Post Q1 2024 Earnings of $0.24 Per Share, Wedbush Forecasts (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Wedbush dropped their Q1 2024 earnings per share estimates for Huntington Bancshares in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $0.24 per share for the quarter, down from their previous estimate of $0.28. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. Wedbush also issued estimates for Huntington Bancshares’ Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.37 EPS and Q4 2025 earnings at $0.37 EPS.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $0.43 EPS.

HBAN has been the subject of several other reports. The Goldman Sachs Group increased their target price on Huntington Bancshares from $12.50 to $14.00 and gave the company a “buy” rating in a report on Monday, December 18th. Evercore ISI increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.50 in a research report on Tuesday, February 27th. Finally, Citigroup increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.72.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $13.95 on Thursday. The firm has a market capitalization of $20.23 billion, a P/E ratio of 11.25 and a beta of 1.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $11.79. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $13.97.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HBAN. Tyler Stone Wealth Management purchased a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at approximately $29,000. Nemes Rush Group LLC raised its position in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares during the period. Clear Street Markets LLC raised its position in shares of Huntington Bancshares by 81.6% during the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock valued at $32,000 after buying an additional 1,272 shares during the period. Finally, Planned Solutions Inc. purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at approximately $33,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock worth $1,360,359 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, March 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.00%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.