Huntington Bancshares’ (HBAN) Equal Weight Rating Reaffirmed at Stephens

Stephens restated their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $18.50 target price on the bank’s stock.

Other research analysts have also recently issued reports about the company. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays lifted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.90 on Tuesday. Huntington Bancshares has a 1 year low of $12.05 and a 1 year high of $18.44. The stock has a market capitalization of $24.55 billion, a PE ratio of 13.74, a PEG ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a 50-day simple moving average of $17.01 and a 200-day simple moving average of $15.56.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, analysts predict that Huntington Bancshares will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 3.67%. Huntington Bancshares’s payout ratio is currently 50.41%.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently bought and sold shares of the company. Asset Dedication LLC grew its holdings in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares during the 3rd quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the third quarter worth about $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at about $32,000. Finally, Crews Bank & Trust acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $58,000. 80.72% of the stock is 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.