Huntington Bancshares Incorporated (HBAN) Given Average Recommendation of “Buy” by Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have earned an average recommendation of “Buy” from the twenty-three research firms that are covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.75.

A number of brokerages have recently issued reports on HBAN. BMO Capital Markets reissued a “hold” rating and issued a $18.00 price target on shares of Huntington Bancshares in a report on Wednesday. Sandler O’Neill reissued a “buy” rating and issued a $18.00 price target on shares of Huntington Bancshares in a report on Tuesday. Bank of America increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their price target on shares of Huntington Bancshares from $16.50 to $17.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a report on Tuesday, January 9th.

In related news, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total value of $603,655.08. Following the transaction, the executive vice president now directly owns 427,270 shares in the company, valued at $5,930,507.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 14,513 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the transaction, the insider now owns 499,824 shares in the company, valued at $6,882,576.48. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Schroder Investment Management Group bought a new position in Huntington Bancshares during the second quarter valued at approximately $227,000. D.A. Davidson & CO. grew its position in Huntington Bancshares by 171.7% during the second quarter. D.A. Davidson & CO. now owns 13,800 shares of the bank’s stock valued at $186,000 after acquiring an additional 8,720 shares during the last quarter. ETRADE Capital Management LLC grew its position in Huntington Bancshares by 22.6% during the second quarter. ETRADE Capital Management LLC now owns 16,723 shares of the bank’s stock valued at $226,000 after acquiring an additional 3,080 shares during the last quarter. Suntrust Banks Inc. grew its position in Huntington Bancshares by 1.4% during the second quarter. Suntrust Banks Inc. now owns 85,608 shares of the bank’s stock valued at $1,157,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Huntington Bancshares by 47.6% during the second quarter. Nordea Investment Management AB now owns 218,377 shares of the bank’s stock valued at $2,952,000 after acquiring an additional 70,443 shares during the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.

Shares of Huntington Bancshares (HBAN) traded up $0.16 during trading on Friday, hitting $16.21. 8,365,522 shares of the stock were exchanged, compared to its average volume of 10,390,000. Huntington Bancshares has a 52-week low of $12.14 and a 52-week high of $16.33. The stock has a market capitalization of $17,700.00, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $0.18 earnings per share. equities research analysts expect that Huntington Bancshares will post 1.2 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 19th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, March 16th. Huntington Bancshares’s dividend payout ratio (DPR) is 32.00%.

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Huntington Bancshares Company Profile

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.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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