Huntington Bancshares (NASDAQ:HBAN) Given New $15.00 Price Target at Evercore ISI

Huntington Bancshares (NASDAQ:HBAN) had its price target reduced by Evercore ISI from $16.50 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other brokerages also recently issued reports on HBAN. Royal Bank of Canada reaffirmed an outperform rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Bank of America upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and increased their price objective for the company from $14.00 to $16.00 in a report on Monday, April 8th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating for the company in a research report on Wednesday, June 12th. Piper Sandler cut shares of Huntington Bancshares from a neutral rating to an underweight rating and decreased their price target for the company from $13.50 to $11.50 in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set an overweight rating for the company in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $15.07.

Huntington Bancshares Trading Down 1.8 %

Shares of HBAN stock opened at $12.75 on Tuesday. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock’s 50-day moving average price is $13.44 and its 200-day moving average price is $13.14. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities research analysts predict that Huntington Bancshares will post 1.2 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.86%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders have sold a total of 157,829 shares of company stock worth $2,148,623 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. purchased a new stake in Huntington Bancshares during the fourth quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the first quarter valued at about $29,000. Nemes Rush Group LLC lifted its holdings in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares in the first quarter valued at about $30,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.