Analysts Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Target Price at $15.71

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.71.

A number of brokerages recently issued reports on HBAN. Citigroup upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, July 26th. Finally, Evercore ISI lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.52 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company has a fifty day moving average of $14.40 and a two-hundred day moving average of $13.89. The stock has a market capitalization of $22.49 billion, a PE ratio of 13.98, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $15.58.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, research analysts forecast that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total value of $169,545.76. Following the sale, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,622 shares of company stock valued at $1,762,904. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CX Institutional increased its position in Huntington Bancshares by 13.4% in the 3rd quarter. CX Institutional now owns 17,748 shares of the bank’s stock worth $261,000 after buying an additional 2,102 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $1,041,000. Exchange Traded Concepts LLC boosted its stake in Huntington Bancshares by 6,617.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 253,303 shares of the bank’s stock valued at $3,724,000 after buying an additional 249,532 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Huntington Bancshares by 668.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,600 shares of the bank’s stock valued at $215,000 after buying an additional 12,700 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Huntington Bancshares in the third quarter worth $487,000. 80.72% of the stock is owned by institutional investors.

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.