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Brendan A. Lawlor, Executive Vice President and Chief Credit Officer of Huntington Bancshares Inc. (NASDAQ:HBAN), a $22.2 billion regional bank trading at 12.3 times earnings with a 4.05% dividend yield, recently sold a portion of his holdings in the company. According to a recent SEC filing, Lawlor sold 3,521 shares of common stock on March 24 at a price of $15.25 per share, totaling approximately $53,695. Following the transaction, Lawlor retains ownership of 47,949.777 shares directly. InvestingPro analysis suggests the stock is currently undervalued.
The sale was conducted under a Rule 10b5-1 trading plan, which Lawlor had adopted on August 23, 2024. Such plans allow insiders to set up a predetermined schedule for selling company stock, providing a defense against potential accusations of insider trading. The stock has demonstrated strong returns over the past five years, and InvestingPro subscribers can access detailed insider trading patterns and additional key metrics in the comprehensive Pro Research Report.
In other recent news, Huntington Bancshares has been the focus of several analyst updates concerning its financial outlook and stock ratings. Citi analysts, while maintaining a Buy rating, revised the price target from $21.00 to $20.00, citing updates to the bank’s financial model and management commentary. Meanwhile, Baird upgraded Huntington’s stock from Neutral to Outperform, setting a price target of $18.00, highlighting the bank’s potential for above-average pre-provision net revenue growth and a robust dividend yield. DA Davidson also maintained a Buy rating but adjusted the price target to $20.50, noting strong revenue growth offset by increased expenses, with expectations for positive operating leverage in 2025.
Truist Securities increased their price target for Huntington Bancshares to $21.00, maintaining a Buy rating, based on anticipated growth in loans, deposits, and fees. The firm also raised EPS estimates for 2025 and 2026, reflecting confidence in the bank’s growth drivers. DA Davidson’s analysis pointed to Huntington’s momentum in new markets and specialty lending, contributing to loan and deposit growth, despite a reduction in the price target due to a slight EPS forecast adjustment. These updates reflect a general optimism among analysts about Huntington Bancshares’ strategic initiatives and potential for long-term growth.
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