Huntington Bancshares’ (HBAN) Equal Weight Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report published on Friday morning,Benzinga reports. They currently have a $18.50 price objective on the bank’s stock.

Several other research firms have also commented on HBAN. JPMorgan Chase & Co. reaffirmed 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. Barclays lifted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson raised their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.92 on Friday. Huntington Bancshares has a twelve month low of $12.05 and a twelve month high of $18.44. The company’s 50 day moving average is $16.84 and its 200 day moving average is $15.82. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market cap of $24.58 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period last year, the company earned $0.27 EPS. On average, sell-side analysts forecast that Huntington Bancshares will post 1.4 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.66%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred 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 transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC increased its position in shares of Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares in the last quarter. UMB Bank n.a. grew its stake in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after buying an additional 728 shares during the last quarter. Lantz Financial LLC increased its position in Huntington Bancshares by 6.1% during the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock worth $224,000 after buying an additional 790 shares during the period. Dillon & Associates Inc. lifted its stake in Huntington Bancshares by 5.9% in the third quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock valued at $215,000 after buying an additional 795 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its holdings in shares of Huntington Bancshares by 7.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock valued at $191,000 after acquiring an additional 795 shares during the period. Hedge funds and other 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.