Huntington Bancshares (NASDAQ:HBAN) Given New $18.00 Price Target at Citigroup

Huntington Bancshares (NASDAQ:HBAN) had its price objective lowered by Citigroup from $20.00 to $18.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the bank’s stock.

HBAN has been the subject of a number of other reports. Morgan Stanley lowered their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.18.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.35 on Monday. The stock has a market capitalization of $22.42 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The business’s fifty day moving average price is $16.21 and its 200 day moving average price is $16.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a 12-month low of $12.05 and a 12-month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.39 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. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Insider Activity

In related news, VP Scott D. Kleinman sold 69,088 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the sale, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently bought and sold shares of the stock. Creative Capital Management Investments LLC increased its holdings in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $37,000. Transce3nd LLC acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $48,000. Finally, Asset Dedication LLC grew its stake in Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after buying an additional 1,260 shares during the last quarter. 80.72% of the stock is currently 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.