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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have received an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.05.

Several research firms have recently issued reports on HBAN. The Goldman Sachs Group decreased their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their price target on Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. National Bank Financial set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th. Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Wolfe Research decreased their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III bought 8,471 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $18.01 per share, with a total value of $152,562.71. Following the completion of the purchase, the director directly owned 11,500 shares of the company’s stock, valued at $207,115. This represents a 279.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This trade represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought 12,712 shares of company stock valued at $246,438 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Huntington Bancshares by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares in the last quarter. State Street Corp lifted its stake in Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after acquiring an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Boston Partners raised its stake in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after purchasing an additional 3,908,927 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Price Performance

Shares of HBAN opened at $15.93 on Thursday. The company has a market cap of $32.29 billion, a P/E ratio of 12.25, a PEG ratio of 0.74 and a beta of 0.94. The stock has a fifty day moving average price of $16.10 and a 200 day moving average price of $16.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares has a 12 month low of $14.89 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period in the prior year, the business earned $0.34 EPS. On average, research analysts forecast that Huntington Bancshares will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Huntington Bancshares Company Profile

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.