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

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.17.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Evercore ISI raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th.

Insider Buying and Selling

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 198,189 shares of company stock worth $2,664,978 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth $381,000. Ronald Blue Trust Inc. grew its stake in shares of Huntington Bancshares by 27.9% during the third quarter. Ronald Blue Trust Inc. now owns 7,556 shares of the bank’s stock worth $81,000 after purchasing an additional 1,646 shares during the period. Kentucky Retirement Systems bought a new stake in Huntington Bancshares in the third quarter valued at about $1,224,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Huntington Bancshares in the third quarter valued at about $547,000. Finally, Moody National Bank Trust Division boosted its holdings in Huntington Bancshares by 4.6% during the third quarter. Moody National Bank Trust Division now owns 34,328 shares of the bank’s stock worth $357,000 after buying an additional 1,501 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.2 %

Shares of Huntington Bancshares stock opened at $13.55 on Friday. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.53 and a beta of 1.11. The stock has a 50-day simple moving average of $13.36 and a 200-day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares has a 52-week low of $9.13 and a 52-week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter last year, the firm earned $0.38 EPS. On average, equities research analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

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.