Huntington Bancshares’ (HBAN) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Monday,Benzinga reports. They currently have a $20.00 price target on the bank’s stock.

Several other analysts have also recently issued reports on the stock. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Piper Sandler upped their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. DA Davidson lifted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Barclays raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.41.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.46 on Monday. The company has a market cap of $23.91 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 1 year low of $12.02 and a 1 year high of $18.44. The stock’s 50 day simple moving average is $16.85 and its two-hundred day simple moving average is $15.02. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

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

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.77%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arvest Bank Trust Division acquired a new stake in Huntington Bancshares in the third quarter worth about $2,381,000. Heritage Wealth Management Inc. purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd purchased a new stake in Huntington Bancshares during the 3rd quarter worth approximately $3,454,000. Finally, Franklin Resources Inc. increased its stake in Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after purchasing an additional 55,602 shares in the last quarter. 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.