Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $13.50 at Piper Sandler

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by Piper Sandler from $11.50 to $13.50 in a research report released on Monday morning, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada increased their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a research report on Monday. Jefferies Financial Group reduced their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a report on Wednesday, July 3rd. 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. Stephens reaffirmed an equal weight rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, StockNews.com cut shares of Huntington Bancshares from a hold rating to a sell rating in a report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of Moderate Buy and a consensus price target of $15.50.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $14.92 on Monday. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.21. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21.62 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 3.85 and a beta of 1.06. The company’s 50-day moving average price is $13.41 and its two-hundred day moving average price is $13.28.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.17 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.16%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the transaction, the vice president now directly owns 397,173 shares of the company’s stock, valued at approximately $5,365,807.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total transaction of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares of the company’s stock, valued at $5,365,807.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,881 shares of company stock valued at $844,003. 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. Wetzel Investment Advisors Inc. bought a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the first quarter valued at approximately $29,000. Nemes Rush Group LLC grew its holdings in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $30,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $33,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.