Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.6389.

A number of brokerages recently issued reports on HBAN. Piper Sandler increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Morgan Stanley lifted their price target on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $20.00 target price (down from $21.00) on shares of Huntington Bancshares in a research note on Monday, October 20th.

Huntington Bancshares Price Performance

HBAN stock opened at $17.56 on Thursday. The firm has a 50 day moving average of $16.04 and a 200-day moving average of $16.52. The firm has a market capitalization of $25.63 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.64 and a beta of 0.96. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.03. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Monday, December 1st. The bank reported $0.67 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The business had revenue of $580.00 million for the quarter. As a group, sell-side analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s payout ratio is currently 43.36%.

Insider Buying and Selling

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 6,416 shares of Huntington Bancshares stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $15.65, for a total transaction of $100,410.40. Following the completion of the sale, the executive vice president owned 252,305 shares of the company’s stock, valued at $3,948,573.25. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 64,587 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider owned 534,640 shares in the company, valued at $8,222,763.20. This trade represents a 10.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Huntington Bancshares during the second quarter worth approximately $25,000. MTM Investment Management LLC purchased a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its position in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Finally, Quarry LP raised its position in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.