Barclays Raises Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its target price raised by Barclays from $15.00 to $17.00 in a research note released on Friday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other research firms have also issued reports on HBAN. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, July 26th. Piper Sandler increased their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Morgan Stanley boosted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.91.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $15.36 on Friday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $16.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $22.26 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The firm’s 50-day simple moving average is $14.56 and its 200-day simple moving average is $13.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data 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 return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $0.36 EPS. As a group, research analysts expect that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm 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 4.04%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 over the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of large investors have recently made changes to their positions in HBAN. WealthShield Partners LLC grew its stake in Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares during the period. UMB Bank n.a. lifted its holdings in shares of Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares during the period. Summit Financial Strategies Inc. increased its stake in Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after purchasing an additional 762 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after buying an additional 780 shares during the period. 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.