Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) – Stock analysts at DA Davidson reduced their Q1 2023 EPS estimates for shares of Huntington Bancshares in a research report issued on Wednesday, April 5th. DA Davidson analyst P. Winter now expects that the bank will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.39. DA Davidson has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.50 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2023 earnings at $1.51 EPS and FY2024 earnings at $1.50 EPS.
A number of other brokerages have also recently commented on HBAN. Raymond James decreased their target price on shares of Huntington Bancshares from $18.00 to $15.00 in a research report on Thursday. Piper Sandler cut their target price on shares of Huntington Bancshares from $15.00 to $14.50 in a research note on Friday, March 10th. Morgan Stanley cut their target price on shares of Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on shares of Huntington Bancshares from $16.50 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $13.50 to $11.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.27.
Huntington Bancshares Stock Performance
Huntington Bancshares (NASDAQ:HBAN – Get Rating) last released its quarterly earnings data on Friday, January 20th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Huntington Bancshares had a net margin of 28.15% and a return on equity of 14.79%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.95 billion.
Institutional Trading of Huntington Bancshares
A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter worth approximately $216,049,000. Federated Hermes Inc. boosted its stake in Huntington Bancshares by 33.9% during the 2nd quarter. Federated Hermes Inc. now owns 24,566,817 shares of the bank’s stock worth $295,539,000 after purchasing an additional 6,214,626 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Huntington Bancshares by 8.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 69,263,384 shares of the bank’s stock valued at $833,239,000 after acquiring an additional 5,592,181 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at about $44,205,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,267,633 shares of the bank’s stock valued at $628,325,000 after acquiring an additional 2,912,638 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the firm’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the transaction, the director now owns 62,845 shares of the company’s stock, valued at approximately $943,303.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by insiders.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 20th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Friday, March 17th. Huntington Bancshares’s dividend payout ratio is presently 42.76%.
About Huntington Bancshares
Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.
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