Evercore ISI Trims Huntington Bancshares (NASDAQ:HBAN) Target Price to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its target price decreased by Evercore ISI from $16.50 to $15.00 in a report published on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

Several other research firms have also issued reports on HBAN. Piper Sandler lowered Huntington Bancshares from a neutral rating to an underweight rating and cut their target price for the company from $13.50 to $11.50 in a research note on Friday, June 14th. Jefferies Financial Group upgraded Huntington Bancshares from a hold rating to a buy rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. DA Davidson upgraded Huntington Bancshares from a neutral rating to a buy rating and lifted their target price for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. Morgan Stanley dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a research note on Wednesday, June 12th. Finally, Stephens restated an equal weight rating and set a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of Moderate Buy and a consensus price target of $15.03.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $12.78 on Tuesday. The firm has a market cap of $18.52 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.41 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $14.30. The stock’s fifty day moving average price is $13.42 and its 200-day moving average price is $13.13.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the firm posted $0.38 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Activity

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares in the last quarter. Boston Partners grew its holdings in Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after buying an additional 9,533,511 shares in the last quarter. Norges Bank purchased a new stake in Huntington Bancshares in the 4th quarter valued at $206,703,000. Dimensional Fund Advisors LP grew its holdings in Huntington Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after buying an additional 765,070 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Huntington Bancshares by 5.5% in the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock valued at $148,449,000 after buying an additional 744,443 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Bancshares

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.