An Analysis of Huntington Bancshares’ Recent Earnings Results and Insider Trading Activities
As of October 1, 2023, Huntington Bancshares (NASDAQ:HBAN) recently released its earnings results for the quarter ending on Friday, July 21st. The bank reported earnings per share (EPS) of $0.35, surpassing the consensus estimate of $0.34 by $0.01.
During this quarter, Huntington Bancshares achieved a net margin of 24.74% and a return on equity of 15.20%. In terms of revenue, the company generated $2.72 billion, exceeding analyst estimates which had predicted $1.84 billion for this period. It is worth noting that in the same quarter last year, Huntington Bancshares posted EPS of $0.36.
In news unrelated to their financial results, insider Helga Houston recently sold 12,280 shares of HBAN stock on Wednesday, August 9th at an average price of $11.97 per share. The total value of this transaction amounted to $146,991.60. As a result of this sale, Houston now directly owns 594,564 shares in the company with an estimated value of approximately $7,116,931.08. This particular transaction was disclosed through a legal filing with the Securities & Exchange Commission (SEC), accessible via hyperlink.
Additionally, EVP Paul G. Heller sold 23,817 shares of HBAN stock also on Wednesday, August 9th at an average price per share amounting to $11.89. Consequently, this transaction totaled approximately $283,184.13 in value for Heller’s sales volume during that time period alone.
Following this stock sale activity conducted by insiders within Huntington Bancshares Corporation during Q3-2023; it can be deduced that both retail investors and market participants should closely monitor further developments surrounding these events.
These insider trading activities provide investors with valuable information about the market sentiment of company insiders, reflecting their belief in future prospects for HBAN. While these transactions may not solely dictate the overall investment decision, they are certainly noteworthy events that warrant attention.
In conclusion, Huntington Bancshares demonstrated strong performance with earnings per share exceeding expectations and revenue surpassing analyst estimates. Furthermore, insider trading activities within the company signal a level of confidence from key individuals regarding the organization’s future prospects.
It is essential for potential investors and stakeholders to carefully consider these factors and closely monitor any developments in order to make informed investment decisions regarding Huntington Bancshares (NASDAQ:HBAN).
Huntington Bancshares Incorporated Sees Increase in Q2 2024 Earnings Estimates, with Diverse Analyst Opinions
Huntington Bancshares Incorporated (NASDAQ:HBAN) has seen an increase in its Q2 2024 earnings estimates, according to a report released by Wedbush on September 27th. The research analyst at Wedbush, D. Chiaverini, predicts that the bank will earn $0.34 per share for the quarter, up from their previous estimate of $0.33. This positive forecast comes as no surprise, considering Huntington Bancshares’ current full-year earnings estimate of $1.37 per share.
However, it is important to consider the broader scope of research reports on HBAN. StockNews.com recently initiated coverage on Huntington Bancshares with a “sell” rating attached to the stock. Conversely, The Goldman Sachs Group gave the stock a “buy” rating and increased their target price from $12.00 to $13.50 in July this year. These varying assessments showcase the diversity of opinions within the investment community.
Barclays also played a part in influencing Huntington Bancshares’ stock when they lowered their price target from $14.00 to $13.00 in June 2023. In contrast, DA Davidson lifted their price objective from $12.00 to $13.00 during July 2023 and maintained a “neutral” rating on the stock.
It is worth noting that Morgan Stanley reiterated an “overweight” rating and placed a target price of $12.00 on shares of Huntington Bancshares in July 2023 as well.
Taking into account all these different perspectives, Bloomberg.com reports an average rating of “Hold” for HBAN with a consensus price target of $13.13.
In other news surrounding Huntington Bancshares Incorporated, insider Helga Houston conducted a significant transaction involving company shares in early August 2023.