Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $17.76 Average Price Target from Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has received an average rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.06.

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th.

Huntington Bancshares Trading Up 1.8 %

NASDAQ HBAN opened at $17.20 on Monday. The company has a market cap of $24.99 billion, a PE ratio of 13.98, a PEG ratio of 1.39 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.44. The stock has a 50 day moving average of $17.00 and a 200-day moving average of $15.59.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities research analysts anticipate that Huntington Bancshares will post 1.4 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.60%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Huntington Bancshares by 10.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 111,025 shares of the bank’s stock valued at $1,449,000 after buying an additional 10,283 shares during the last quarter. MQS Management LLC purchased a new stake in Huntington Bancshares during the 2nd quarter valued at $198,000. Intech Investment Management LLC purchased a new stake in Huntington Bancshares during the 2nd quarter valued at $426,000. Canada Pension Plan Investment Board boosted its position in Huntington Bancshares by 14.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 905,917 shares of the bank’s stock valued at $11,940,000 after buying an additional 116,134 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Huntington Bancshares by 1.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 302,742 shares of the bank’s stock valued at $3,990,000 after buying an additional 5,400 shares during the period. 80.72% of the stock is currently owned by institutional investors.

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.