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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have earned a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.76.

A number of research firms have weighed in on HBAN. Truist Financial started coverage on Huntington Bancshares in a research note on Tuesday, January 7th. They issued a “buy” rating and a $19.00 price target for the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. 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. DA Davidson boosted their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Piper Sandler raised their target price 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.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.01 on Monday. The company has a 50 day moving average of $17.06 and a 200-day moving average of $15.49. 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 stock has a market capitalization of $24.71 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. Huntington Bancshares has a twelve month low of $12.02 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the company posted $0.27 EPS. As a group, equities research analysts forecast that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the firm’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 transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This trade 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 accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s 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 directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently modified their holdings of HBAN. Vanguard Personalized Indexing Management LLC raised its stake in Huntington Bancshares by 10.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 111,025 shares of the bank’s stock worth $1,449,000 after acquiring an additional 10,283 shares in the last quarter. MQS Management LLC bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $198,000. Intech Investment Management LLC bought a new position in Huntington Bancshares in the 2nd quarter valued at approximately $426,000. Canada Pension Plan Investment Board boosted its position in Huntington Bancshares by 14.7% in the second quarter. Canada Pension Plan Investment Board now owns 905,917 shares of the bank’s stock valued at $11,940,000 after buying an additional 116,134 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Huntington Bancshares by 1.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 302,742 shares of the bank’s stock worth $3,990,000 after buying an additional 5,400 shares during the last quarter. Institutional investors and hedge funds 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.