Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by Argus from $19.00 to $20.00 in a research report sent to investors on Wednesday morning,MarketScreener reports. Argus currently has a buy rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Truist Financial boosted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, January 26th. Raymond James Financial raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. Piper Sandler lifted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.26.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $17.48 on Wednesday. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.91. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $17.46 and its two-hundred day moving average price is $16.88. The stock has a market cap of $27.53 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 44.60%.

Insider Buying and Selling

In other news, EVP Marcy C. Hingst sold 12,832 shares of Huntington Bancshares stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president directly owned 239,473 shares in the company, valued at $4,310,514. The trade was a 5.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the transaction, the insider owned 534,640 shares in the company, valued at $8,222,763.20. This represents a 10.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 97,863 shares of company stock worth $1,581,634. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sagespring Wealth Partners LLC raised its stake in shares of Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after acquiring an additional 587 shares in the last quarter. LifeWealth Investments LLC raised its position in shares of Huntington Bancshares by 2.3% in the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock valued at $478,000 after purchasing an additional 632 shares during the period. Parcion Private Wealth LLC lifted its stake in shares of Huntington Bancshares by 6.2% in the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after buying an additional 648 shares during the last quarter. Strategic Planning Inc. lifted its stake in shares of Huntington Bancshares by 0.3% in the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock worth $3,442,000 after buying an additional 670 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Huntington Bancshares by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after buying an additional 694 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.