Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have received an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $16.62.

HBAN has been the topic of several research analyst reports. Barclays increased their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Evercore ISI increased 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. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Citigroup raised their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $18.01 on Friday. Huntington Bancshares has a 12-month low of $11.10 and a 12-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 firm has a market capitalization of $26.17 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The firm has a 50-day moving average price of $16.05 and a 200 day moving average price of $14.60.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data 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 firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the firm earned $0.36 earnings per share. Research analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, 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 a total of 43,699 shares of company stock valued at $757,356 over the last quarter. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Asset Dedication LLC increased 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 buying an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new stake in Huntington Bancshares during the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. grew its stake in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the 3rd quarter valued at about $31,000. Finally, Fortitude Family Office LLC purchased a new stake in Huntington Bancshares during the 3rd quarter valued at about $32,000. 80.72% of the stock is owned by institutional investors and hedge funds.

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.