Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $17.56

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.56.

A number of equities analysts have weighed in on HBAN shares. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Monday, December 23rd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $16.38 on Thursday. The firm has a market cap of $23.80 billion, a PE ratio of 15.75, a P/E/G ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a twelve month low of $12.02 and a twelve month high of $18.44. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $16.89 and a 200 day moving average price of $15.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $0.36 earnings per share. Sell-side analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is presently 59.62%.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after buying an additional 1,522,767 shares in the last quarter. Geode Capital Management LLC boosted its position in Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC grew its stake in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after acquiring an additional 3,410,597 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.