Huntington Bancshares’ (HBAN) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Thursday,Benzinga reports. They currently have a $20.00 price target on the bank’s stock.

Other equities research analysts also recently issued reports about the stock. DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Piper Sandler increased their price target on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Keefe, Bruyette & Woods raised their target price on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.17 on Thursday. The stock has a 50-day moving average of $16.65 and a 200-day moving average of $14.85. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. 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 company has a market cap of $24.94 billion, a PE ratio of 16.51, a P/E/G ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the prior year, the business posted $0.36 earnings per share. On average, equities research analysts predict that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.61%. Huntington Bancshares’s payout ratio is presently 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 over the last quarter. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Huntington Bancshares by 10.3% in the 3rd 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. raised its stake in shares of Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. Geode Capital Management LLC raised 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 worth $540,422,000 after buying an additional 473,893 shares during the last quarter. FMR LLC boosted its holdings in 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 purchasing an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 13.2% in 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 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.