Q2 2023 Earnings Estimate for Huntington Bancshares Incorporated (NASDAQ:HBAN) Issued By DA Davidson

Posted by on Apr 26th, 2023

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) – Equities researchers at DA Davidson issued their Q2 2023 EPS estimates for Huntington Bancshares in a research note issued on Monday, April 24th. DA Davidson analyst P. Winter anticipates that the bank will earn $0.37 per share for the quarter. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.43 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2023 earnings at $1.47 EPS and FY2024 earnings at $1.41 EPS.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Huntington Bancshares had a net margin of 27.06% and a return on equity of 15.33%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the business posted $0.32 EPS.

A number of other equities analysts have also weighed in on HBAN. UBS Group lowered shares of Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Monday, April 10th. The Goldman Sachs Group decreased their price target on Huntington Bancshares from $16.50 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. Royal Bank of Canada cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, April 21st. Wedbush reissued a “neutral” rating and issued a $12.00 price target on shares of Huntington Bancshares in a report on Friday, April 21st. Finally, Morgan Stanley decreased their price objective on Huntington Bancshares from $18.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.83.

Huntington Bancshares Stock Down 2.3 %

Shares of NASDAQ:HBAN opened at $10.94 on Tuesday. Huntington Bancshares has a 1 year low of $9.94 and a 1 year high of $15.74. The business has a fifty day moving average price of $12.53 and a two-hundred day moving average price of $13.89. The company has a market capitalization of $15.86 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 6.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. Financial Advocates Investment Management boosted its stake in Huntington Bancshares by 2.1% during the 3rd quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank’s stock valued at $439,000 after purchasing an additional 678 shares during the last quarter. Assetmark Inc. boosted its position in shares of Huntington Bancshares by 4.4% during the third quarter. Assetmark Inc. now owns 16,156 shares of the bank’s stock valued at $213,000 after buying an additional 680 shares during the last quarter. Ballentine Partners LLC increased its holdings in Huntington Bancshares by 5.5% in the 4th quarter. Ballentine Partners LLC now owns 13,096 shares of the bank’s stock worth $185,000 after buying an additional 681 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Huntington Bancshares by 6.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank’s stock worth $151,000 after buying an additional 729 shares during the last quarter. Finally, Farmers Trust Co. lifted its stake in Huntington Bancshares by 0.7% during the 4th quarter. Farmers Trust Co. now owns 103,156 shares of the bank’s stock valued at $1,454,000 after acquiring an additional 767 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, Director David L. Porteous sold 80,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $15.01, for a total value of $1,200,800.00. Following the sale, the director now directly owns 62,845 shares of the company’s stock, valued at $943,303.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, July 3rd. Shareholders of record on Monday, June 19th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is 40.00%.

Huntington Bancshares Company Profile

(Get Rating)

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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Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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