Huntington Bancshares’ (HBAN) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report issued on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $20.00 target price on the bank’s stock.

Other analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. 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 research report on Wednesday, December 4th. DA Davidson increased their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Citigroup boosted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Trading Up 0.2 %

Shares of Huntington Bancshares stock opened at $16.90 on Tuesday. The business has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $15.56. Huntington Bancshares has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results 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 period in the prior year, the business posted $0.27 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post 1.37 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.67%. Huntington Bancshares’s payout ratio is 50.41%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in Huntington Bancshares during the second quarter worth approximately $426,000. Canada Pension Plan Investment Board boosted its holdings in shares of Huntington Bancshares by 14.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 905,917 shares of the bank’s stock worth $11,940,000 after buying an additional 116,134 shares during the period. Pacer Advisors Inc. grew its stake in Huntington Bancshares by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 103,822 shares of the bank’s stock valued at $1,368,000 after buying an additional 4,541 shares during the last quarter. Sei Investments Co. lifted its position in Huntington Bancshares by 6.3% during the 2nd quarter. Sei Investments Co. now owns 635,013 shares of the bank’s stock worth $8,369,000 after acquiring an additional 37,816 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Huntington Bancshares by 8.5% during the second quarter. Summit Trail Advisors LLC now owns 16,479 shares of the bank’s stock valued at $220,000 after acquiring an additional 1,294 shares during the period. 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.