Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $15.71

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $15.91.

A number of analysts have recently commented on HBAN shares. Jefferies Financial Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Piper Sandler increased their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods dropped their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Citigroup raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Insider Activity

In other news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock valued at $1,762,904 over the last three months. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in HBAN. Boston Partners increased its stake in shares of Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the period. National Bank of Canada FI increased its stake in shares of Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after purchasing an additional 2,979,768 shares during the period. Scout Investments Inc. bought a new position in shares of Huntington Bancshares during the first quarter worth approximately $35,428,000. Point72 Asset Management L.P. increased its stake in shares of Huntington Bancshares by 194.8% during the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after purchasing an additional 2,116,839 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after acquiring an additional 1,838,019 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.5 %

NASDAQ:HBAN opened at $15.36 on Friday. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $16.03. 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 $22.26 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. The stock has a 50-day moving average price of $14.56 and a two-hundred day moving average price of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $0.36 EPS. As a group, equities analysts expect that Huntington Bancshares will post 1.18 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. Huntington Bancshares’s payout ratio is 55.86%.

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.