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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have received an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.56.

Several brokerages have issued reports on HBAN. Barclays raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler boosted their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Evercore ISI increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, DA Davidson raised their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of HBAN. HB Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 6.5% in the second quarter. HB Wealth Management LLC now owns 28,931 shares of the bank’s stock worth $381,000 after buying an additional 1,777 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Huntington Bancshares by 70.8% during the 2nd quarter. Arkadios Wealth Advisors now owns 30,627 shares of the bank’s stock worth $404,000 after acquiring an additional 12,697 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Huntington Bancshares by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 799,804 shares of the bank’s stock valued at $10,541,000 after purchasing an additional 133,550 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Huntington Bancshares by 409.6% in the second quarter. UMB Bank n.a. now owns 3,817 shares of the bank’s stock valued at $50,000 after purchasing an additional 3,068 shares during the period. Finally, Peregrine Capital Management LLC purchased a new position in shares of Huntington Bancshares in the second quarter worth about $1,046,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $16.33 on Thursday. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.47 and a beta of 1.06. 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 business has a 50 day simple moving average of $16.89 and a 200-day simple moving average of $15.09. Huntington Bancshares has a 1 year low of $12.02 and a 1 year high of $18.44.

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

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is currently 59.62%.

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.