Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.59.

A number of research analysts have recently issued reports on HBAN shares. Piper Sandler raised their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Royal Bank of Canada raised their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th.

Huntington Bancshares Stock Down 1.7 %

Shares of NASDAQ:HBAN opened at $14.60 on Tuesday. The stock’s 50-day moving average price is $14.38 and its 200-day moving average price is $13.75. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24. The stock has a market capitalization of $21.16 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (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 firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the firm earned $0.35 earnings per share. On average, equities analysts anticipate that Huntington Bancshares will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.25%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,622 shares of company stock worth $1,762,904. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. WealthShield Partners LLC raised its holdings in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after acquiring an additional 683 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after buying an additional 744 shares during the period. Summit Financial Strategies Inc. lifted its holdings in shares of Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after buying an additional 762 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after buying an additional 780 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after buying an additional 794 shares during the period. 80.72% of the stock is currently owned by hedge funds and other 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.