Huntington Bancshares (NASDAQ:HBAN) Given New $15.00 Price Target at Jefferies Financial Group

Huntington Bancshares (NASDAQ:HBAN) had its price target reduced by Jefferies Financial Group from $16.00 to $15.00 in a report issued on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the bank’s stock.

Several other equities analysts also recently commented on HBAN. Morgan Stanley cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Piper Sandler downgraded Huntington Bancshares from a neutral rating to an underweight rating and reduced their price target for the stock from $13.50 to $11.50 in a report on Friday, June 14th. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $17.00 to $16.50 and set an overweight rating for the company in a report on Thursday, June 27th. Royal Bank of Canada reiterated an outperform rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Finally, Stephens reissued an equal weight rating and set a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $14.97.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $13.04 on Wednesday. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 2.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $13.39 and a 200-day simple moving average of $13.16. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company earned $0.38 earnings per share. Equities analysts forecast that Huntington Bancshares will post 1.18 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Insider Activity at Huntington Bancshares

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

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in the business. Comerica Bank acquired a new position in Huntington Bancshares during the 3rd quarter valued at about $5,261,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after acquiring an additional 10,795 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after purchasing an additional 1,838,019 shares during the last quarter. Vest Financial LLC boosted its stake in Huntington Bancshares by 16.5% in the 4th quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after purchasing an additional 141,410 shares in the last quarter. Finally, KBC Group NV grew its position in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after purchasing an additional 3,729,974 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

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.