Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $18.00 at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by Morgan Stanley from $16.00 to $18.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Several other analysts have also weighed in on the company. Stephens restated an equal weight rating and set a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Piper Sandler increased their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an underweight rating in a report on Monday, July 22nd. Citigroup increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a buy rating in a report on Monday, July 22nd. Argus increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a buy rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada upped 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, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $15.59.

Huntington Bancshares Stock Up 1.8 %

Shares of HBAN opened at $13.49 on Monday. The business’s 50 day simple moving average is $13.50 and its 200-day simple moving average is $13.40. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $15.24. The stock has a market capitalization of $19.55 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, equities analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,900 shares of company stock valued at $1,862,176. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Stoneridge Investment Partners LLC bought a new stake in Huntington Bancshares during the second quarter valued at about $1,198,000. GHP Investment Advisors Inc. raised its stake in Huntington Bancshares by 2.8% in the second quarter. GHP Investment Advisors Inc. now owns 157,066 shares of the bank’s stock valued at $2,070,000 after buying an additional 4,268 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Huntington Bancshares by 13.6% in the second quarter. Meeder Advisory Services Inc. now owns 40,478 shares of the bank’s stock valued at $534,000 after buying an additional 4,850 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Huntington Bancshares by 43.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 839,162 shares of the bank’s stock valued at $10,667,000 after buying an additional 252,916 shares during the last quarter. Finally, Vest Financial LLC raised its stake in Huntington Bancshares by 36.5% in the second quarter. Vest Financial LLC now owns 87,561 shares of the bank’s stock valued at $1,154,000 after buying an additional 23,432 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.