Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.15.

HBAN has been the topic of several research analyst reports. Wolfe Research reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.86 on Monday. The stock has a market cap of $36.20 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The business’s 50-day simple moving average is $16.60 and its 200 day simple moving average is $16.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts predict that Huntington Bancshares will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 47.69%.

Insider Transactions at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought a total of 33,500 shares of company stock valued at $617,542 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its position in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.