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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.06.

HBAN has been the topic of a number of research reports. Piper Sandler dropped their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. CX Institutional lifted its position in shares of Huntington Bancshares by 13.4% during the 3rd quarter. CX Institutional now owns 17,748 shares of the bank’s stock worth $261,000 after purchasing an additional 2,102 shares during the last quarter. Asset Dedication LLC increased its position in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Huntington Bancshares by 37.2% during the third quarter. Vontobel Holding Ltd. now owns 21,801 shares of the bank’s stock worth $320,000 after buying an additional 5,913 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Huntington Bancshares by 2.4% in the third quarter. Wolff Wiese Magana LLC now owns 143,739 shares of the bank’s stock valued at $2,113,000 after acquiring an additional 3,335 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC grew its stake in shares of Huntington Bancshares by 4.3% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 116,346 shares of the bank’s stock worth $1,710,000 after acquiring an additional 4,845 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $16.61 on Friday. The company has a 50-day moving average price of $16.76 and a two-hundred day moving average price of $15.85. The stock has a market cap of $24.13 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 52 week low of $12.05 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 earnings per share. Analysts forecast that Huntington Bancshares will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.73%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.