Huntington Bancshares (NASDAQ:HBAN) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Tuesday morning,Benzinga reports. The firm issued a buy rating and a $19.00 price objective on the bank’s stock.

A number of other research firms also recently weighed in on HBAN. Citigroup lifted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. DA Davidson lifted their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $17.76.

Huntington Bancshares Trading Down 0.7 %

NASDAQ HBAN opened at $16.43 on Tuesday. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $23.87 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The firm’s fifty day moving average price is $17.04 and its 200 day moving average price is $15.30.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. 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 previous year, the business posted $0.36 earnings per share. On average, sell-side analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.77%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently made changes to their positions in HBAN. Arvest Bank Trust Division purchased a new position in Huntington Bancshares in the 3rd quarter worth about $2,381,000. Heritage Wealth Management Inc. bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at $744,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after acquiring an additional 44,662 shares in the last quarter. Petiole USA ltd acquired a new position in shares of Huntington Bancshares during the 3rd quarter valued at about $3,454,000. Finally, Franklin Resources Inc. lifted its stake in shares of Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after buying an additional 55,602 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

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.