Huntington Bancshares (NASDAQ:HBAN) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $20.00 target price on the bank’s stock.

A number of other analysts have also weighed in on HBAN. DA Davidson upped their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Piper Sandler lifted 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. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.28 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a fifty-two week low of $12.02 and a fifty-two week high of $18.44. The stock has a market cap of $23.65 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The stock has a fifty day moving average of $16.80 and a 200-day moving average of $14.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share 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 analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities research analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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 given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is presently 59.62%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares 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 directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last three months. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors have recently modified their holdings of the company. Asset Dedication LLC raised its position in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. lifted its stake in 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 period. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the third quarter valued at $31,000. Finally, Fortitude Family Office LLC purchased a new position in Huntington Bancshares during the 3rd quarter valued at $32,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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.