Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have received an average recommendation of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.00.
A number of equities analysts recently commented on HBAN shares. DA Davidson started coverage on Huntington Bancshares in a report on Thursday, March 23rd. They set a “buy” rating and a $16.50 target price for the company. Jefferies Group LLC upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a report on Monday, April 3rd. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the company a “hold” rating in a report on Monday, April 3rd. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, April 11th. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued a $14.00 price target (down previously from $15.00) on shares of Huntington Bancshares in a research report on Thursday, April 20th.
Huntington Bancshares (NASDAQ:HBAN) traded up 0.22% during mid-day trading on Tuesday, hitting $13.72. The company had a trading volume of 9,747,176 shares. Huntington Bancshares has a 52-week low of $8.68 and a 52-week high of $14.74. The company has a 50-day moving average price of $12.90 and a 200 day moving average price of $13.29. The company has a market capitalization of $14.92 billion, a P/E ratio of 20.36 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, April 19th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Huntington Bancshares had a net margin of 17.54% and a return on equity of 11.07%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue was up 39.8% compared to the same quarter last year. On average, analysts forecast that Huntington Bancshares will post $0.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 19th were paid a $0.08 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.33%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 49.23%.
In other news, CEO Stephen D. Steinour acquired 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul G. Heller sold 35,720 shares of Huntington Bancshares stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total value of $461,859.60. Following the transaction, the executive vice president now directly owns 443,883 shares of the company’s stock, valued at $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. City Holding Co. boosted its position in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares during the period. Moody Lynn & Lieberson LLC purchased a new stake in Huntington Bancshares during the first quarter worth about $134,000. Sigma Planning Corp purchased a new stake in Huntington Bancshares during the first quarter worth about $137,000. Finally, Affinity Wealth Management purchased a new stake in Huntington Bancshares during the first quarter worth about $141,000. 75.26% of the stock is owned by hedge funds and other institutional investors.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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