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

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

Several other analysts have also weighed in on the stock. Piper Sandler lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $17.41.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.28 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm’s fifty day simple moving average is $16.80 and its two-hundred day simple moving average is $14.96. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. The stock has a market capitalization of $23.65 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, analysts predict that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 59.62%.

Insider Buying and Selling at Huntington Bancshares

In related 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 value of $99,600.65. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System grew its holdings in Huntington Bancshares by 0.7% during the second quarter. State of Michigan Retirement System now owns 419,050 shares of the bank’s stock valued at $5,523,000 after purchasing an additional 3,000 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Huntington Bancshares during the 2nd quarter worth $590,000. WealthShield Partners LLC increased its holdings in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after acquiring an additional 683 shares during the last quarter. Kintegral Advisory LLC raised its stake in Huntington Bancshares by 21.9% in the 2nd quarter. Kintegral Advisory LLC now owns 162,614 shares of the bank’s stock valued at $2,164,000 after acquiring an additional 29,264 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in Huntington Bancshares by 6.5% during the second quarter. HB Wealth Management LLC now owns 28,931 shares of the bank’s stock valued at $381,000 after purchasing an additional 1,777 shares during the last quarter. 80.72% of the stock is owned by 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.