Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $18.24 Average PT from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given a consensus rating of “Moderate Buy” by the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.35.

A number of brokerages have recently commented on HBAN. Morgan Stanley lowered their price objective on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday. Citigroup increased their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Stephens reissued an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a report on Friday, February 7th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th.

Huntington Bancshares Stock Up 3.3 %

HBAN opened at $14.75 on Tuesday. Huntington Bancshares has a fifty-two week low of $12.05 and a fifty-two week high of $18.45. The business has a 50-day moving average of $16.37 and a 200-day moving average of $16.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $21.55 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 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 fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed 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 4.20%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after buying an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after buying an additional 2,218,020 shares during the period. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 4.6% during the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock worth $855,802,000 after buying an additional 2,310,502 shares during the period. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the period. Finally, FMR LLC lifted its position in shares of Huntington Bancshares by 36.9% during the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock worth $528,434,000 after buying an additional 8,759,871 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.