Huntington Bancshares Incorporated (NASDAQ:HBAN) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 26,890,045 shares, an increase of 41.1% from the January 12th total of 19,056,267 shares. Based on an average daily volume of 11,214,474 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.5% of the company’s stock are short sold.
Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report on Tuesday, January 9th. Hilliard Lyons cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Wednesday, January 24th. Barclays raised their price target on shares of Huntington Bancshares from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Piper Jaffray Companies restated a “buy” rating and set a $15.50 price target on shares of Huntington Bancshares in a report on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $16.25 price target on shares of Huntington Bancshares in a report on Friday, December 22nd. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Huntington Bancshares presently has an average rating of “Buy” and an average target price of $16.75.
Several large investors have recently added to or reduced their stakes in HBAN. Capital International Investors increased its position in Huntington Bancshares by 13.2% during the third quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock worth $694,080,000 after acquiring an additional 5,800,000 shares during the period. Beacon Investment Advisory Services Inc. bought a new position in Huntington Bancshares during the third quarter worth $23,872,000. Janus Henderson Group PLC increased its position in Huntington Bancshares by 865.6% during the second quarter. Janus Henderson Group PLC now owns 1,432,015 shares of the bank’s stock worth $19,360,000 after acquiring an additional 1,283,709 shares during the period. Maltese Capital Management LLC bought a new position in Huntington Bancshares during the third quarter worth $15,496,000. Finally, Bank of Montreal Can increased its position in Huntington Bancshares by 24.2% during the fourth quarter. Bank of Montreal Can now owns 5,274,916 shares of the bank’s stock worth $76,802,000 after acquiring an additional 1,027,377 shares during the period. 74.36% of the stock is currently owned by institutional investors.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $0.18 earnings per share. research analysts expect that Huntington Bancshares will post 1.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, March 16th. Huntington Bancshares’s dividend payout ratio is 32.00%.
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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