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

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

A number of equities analysts recently weighed in on the stock. Barclays lowered shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Royal Bank Of Canada reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Piper Sandler raised shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. Morgan Stanley reduced their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders acquired a total of 33,500 shares of company stock worth $617,542 over the last quarter. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Wellington Management Group LLP increased its stake in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the 4th quarter valued at $432,584,000. Vanguard Group Inc. increased 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 valued at $3,319,385,000 after buying an additional 14,338,222 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Huntington Bancshares by 27.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after buying an additional 5,026,894 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $85,690,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $17.79 on Monday. Huntington Bancshares has a 12-month low of $14.89 and a 12-month high of $19.45. The firm has a market capitalization of $36.06 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.81 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $16.50 and a 200-day moving average of $16.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities research analysts forecast that Huntington Bancshares will post 1.62 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

About Huntington Bancshares

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.