Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Rating of “Moderate Buy” from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $14.97.

A number of analysts have issued reports on HBAN shares. Piper Sandler downgraded Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 price target on shares of Huntington Bancshares in a report on Tuesday, June 11th. JPMorgan Chase & Co. reduced their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. Morgan Stanley reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, UBS Group reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. State of Alaska Department of Revenue lifted its position in shares of Huntington Bancshares by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after buying an additional 780 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Huntington Bancshares by 6.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock worth $185,000 after purchasing an additional 805 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Huntington Bancshares by 4.7% during the 1st quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock worth $250,000 after purchasing an additional 811 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Huntington Bancshares by 5.8% during the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after purchasing an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 1.3 %

Huntington Bancshares stock opened at $13.04 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $14.30. The stock’s 50 day simple moving average is $13.39 and its two-hundred day simple moving average is $13.16. The firm has a market cap of $18.90 billion, a PE ratio of 11.75, a P/E/G ratio of 2.49 and a beta of 1.06.

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 analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.38 EPS. Analysts anticipate that Huntington Bancshares will post 1.18 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

About Huntington Bancshares

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.