Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Citigroup Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its price target upped by Citigroup from $20.00 to $21.00 in a research report report published on Friday,MarketScreener reports. They currently have a buy rating on the bank’s stock.

A number of other research analysts also recently commented on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Finally, DA Davidson boosted their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.84.

Huntington Bancshares Stock Down 0.9%

Shares of HBAN traded down $0.17 during mid-day trading on Friday, hitting $17.56. 1,865,343 shares of the company’s stock were exchanged, compared to its average volume of 25,718,170. The stock’s 50-day moving average is $17.02 and its 200-day moving average is $15.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.86 and a beta of 0.97. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s payout ratio is currently 45.93%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently bought and sold shares of the business. Woodline Partners LP acquired a new stake in Huntington Bancshares in the fourth quarter worth approximately $1,420,000. Waverly Advisors LLC increased its position in shares of Huntington Bancshares by 13.9% during the 4th quarter. Waverly Advisors LLC now owns 26,286 shares of the bank’s stock worth $428,000 after purchasing an additional 3,204 shares in the last quarter. Vise Technologies Inc. lifted its position in shares of Huntington Bancshares by 22.8% during the fourth quarter. Vise Technologies Inc. now owns 17,814 shares of the bank’s stock worth $290,000 after purchasing an additional 3,313 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Huntington Bancshares by 96.1% in the 4th quarter. Toronto Dominion Bank now owns 1,410,495 shares of the bank’s stock valued at $22,949,000 after purchasing an additional 691,257 shares during the period. Finally, Financial Advisory Corp bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $365,000. 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.