Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $16.09 Consensus Target Price from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.09.

A number of brokerages have weighed in on HBAN. Argus lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America upped their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Friday, July 26th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.29 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm’s fifty day moving average price is $15.09 and its 200 day moving average price is $14.18. Huntington Bancshares has a 1-year low of $10.10 and a 1-year high of $17.54.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. On average, sell-side analysts expect that Huntington Bancshares will post 1.2 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Asset Dedication LLC lifted its position in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth about $29,000. Hazlett Burt & Watson Inc. boosted its position in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the third quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the third quarter worth approximately $32,000. 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.