Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its target price upped by The Goldman Sachs Group from $16.25 to $20.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other analysts have also commented on the stock. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Piper Sandler boosted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Citigroup raised their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.62.

Huntington Bancshares Price Performance

HBAN stock opened at $18.00 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company’s 50-day moving average is $15.93 and its 200-day moving average is $14.55. The stock has a market capitalization of $26.15 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 3.63 and a beta of 1.03. Huntington Bancshares has a 1 year low of $10.73 and a 1 year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts expect that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’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 transaction of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its stake in Huntington Bancshares by 251,152.2% in the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after purchasing an additional 173,295 shares during the period. Heritage Wealth Management Inc. purchased a new stake in shares of Huntington Bancshares in the second quarter worth about $744,000. Petiole USA ltd bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $3,454,000. Robeco Institutional Asset Management B.V. grew its stake in Huntington Bancshares by 40.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after acquiring an additional 55,865 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after acquiring an additional 968,331 shares during the period. 80.72% of the stock is owned by institutional investors.

About Huntington Bancshares

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.