Huntington Bancshares (NASDAQ:HBAN) PT Raised to $16.00 at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price target raised by Morgan Stanley from $15.00 to $16.00 in a research report sent to investors on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

Several other equities analysts have also recently issued reports on HBAN. StockNews.com cut Huntington Bancshares from a hold rating to a sell rating in a research note on Wednesday, June 19th. Jefferies Financial Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Bank of America lifted their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a buy rating in a research note on Monday. Citigroup lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a buy rating in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their price objective on Huntington Bancshares from $15.00 to $14.50 and set a market perform rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $15.50.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $14.92 on Monday. The business has a 50-day moving average of $13.41 and a 200 day moving average of $13.28. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $15.21. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 3.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business posted $0.35 EPS. As a group, sell-side analysts forecast that Huntington Bancshares will post 1.17 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the transaction, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rajeev Syal sold 11,627 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the transaction, the vice president now directly owns 329,607 shares in the company, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,881 shares of company stock worth $844,003. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HBAN. Boston Partners grew its holdings in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after acquiring an additional 9,533,511 shares during the period. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter worth $206,703,000. Dimensional Fund Advisors LP grew its holdings in Huntington Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after acquiring an additional 765,070 shares during the period. Raymond James & Associates grew its holdings in Huntington Bancshares by 3.1% during the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after acquiring an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after acquiring an additional 1,838,019 shares during the period. 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.