Huntington Bancshares (HBAN) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Huntington Bancshares (NASDAQ: HBAN):

• 12/23/2024 – Huntington Bancshares had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
• 12/12/2024 – Huntington Bancshares had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $20.00 price target on the stock.
• 12/12/2024 – Huntington Bancshares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/4/2024 – Huntington Bancshares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 12/4/2024 – Huntington Bancshares had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $20.00 price target on the stock, up previously from $18.50.
• 12/4/2024 – Huntington Bancshares had its price target raised by analysts at Keefe, Bruyette & Woods from $16.00 to $19.00. They now have a “market perform” rating on the stock.
• 12/3/2024 – Huntington Bancshares had its price target raised by analysts at Piper Sandler from $15.00 to $17.50. They now have an “underweight” rating on the stock.
• 11/26/2024 – Huntington Bancshares had its price target raised by analysts at The Goldman Sachs Group, Inc. from $16.25 to $20.00. They now have a “buy” rating on the stock.
• 11/19/2024 – Huntington Bancshares had its price target raised by analysts at Citigroup Inc. from $18.00 to $21.00. They now have a “buy” rating on the stock.
• 10/30/2024 – Huntington Bancshares had its price target raised by analysts at Evercore ISI from $17.00 to $18.00. They now have an “outperform” rating on the stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.46 on Wednesday. The company has a fifty day simple moving average of $16.84 and a 200-day simple moving average of $15.00. 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 firm has a market capitalization of $23.91 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a 52-week low of $12.02 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.36 EPS. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 3.77%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction 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 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

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

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.