Jefferies Financial Group Research Analysts Boost Earnings Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) – Analysts at Jefferies Financial Group raised their Q1 2023 EPS estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Monday, January 23rd. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.32. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.55 per share.

A number of other research analysts have also weighed in on the stock. Wolfe Research lifted their price objective on shares of Huntington Bancshares from $13.00 to $14.00 in a research note on Thursday, December 1st. StockNews.com began coverage on shares of Huntington Bancshares in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their price target on shares of Huntington Bancshares to $17.50 in a research report on Wednesday, November 16th. Wedbush reiterated a “neutral” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, September 28th. Finally, DA Davidson started coverage on Huntington Bancshares in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $15.00 target price on the stock. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Hold” and an average price target of $15.53.

Huntington Bancshares Stock Down 0.4 %

Huntington Bancshares stock opened at $14.68 on Wednesday. Huntington Bancshares has a 1-year low of $11.67 and a 1-year high of $16.51. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.30 and a beta of 1.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $14.50 and a 200 day simple moving average of $14.04.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Pallas Capital Advisors LLC bought a new position in Huntington Bancshares in the fourth quarter worth about $328,000. Empirical Finance LLC raised its stake in Huntington Bancshares by 10.1% in the fourth quarter. Empirical Finance LLC now owns 33,803 shares of the bank’s stock worth $477,000 after buying an additional 3,095 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Huntington Bancshares by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 93,200 shares of the bank’s stock worth $1,314,000 after purchasing an additional 900 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Huntington Bancshares by 3.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,171,759 shares of the bank’s stock worth $44,722,000 after purchasing an additional 98,828 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Huntington Bancshares by 6.0% in the fourth quarter. Park Avenue Securities LLC now owns 62,313 shares of the bank’s stock worth $879,000 after purchasing an additional 3,554 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Michael Scott Jones sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $15.25, for a total transaction of $762,500.00. Following the completion of the sale, the vice president now owns 52,647 shares of the company’s stock, valued at $802,866.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Michael Scott Jones sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $15.25, for a total transaction of $762,500.00. Following the completion of the sale, the vice president now directly owns 52,647 shares in the company, valued at approximately $802,866.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 9,749 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $15.50, for a total transaction of $151,109.50. Following the completion of the transaction, the vice president now owns 214,477 shares in the company, valued at approximately $3,324,393.50. The disclosure for this sale can be found here. Insiders have sold a total of 87,804 shares of company stock worth $1,346,779 in the last ninety days. 0.72% of the stock is owned by insiders.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 42.76%.

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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