Keefe, Bruyette & Woods Trims Huntington Bancshares (NASDAQ:HBAN) Target Price to $14.50

Huntington Bancshares (NASDAQ:HBAN) had its price target reduced by Keefe, Bruyette & Woods from $15.00 to $14.50 in a research report sent to investors on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley cut their price target on Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Evercore ISI cut their target price on Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Bank of America raised Huntington Bancshares from a neutral 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. Jefferies Financial Group cut their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut their target price on Huntington Bancshares from $17.00 to $16.50 and set an overweight rating on the stock in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $14.93.

Huntington Bancshares Trading Up 3.0 %

Shares of NASDAQ HBAN opened at $13.46 on Tuesday. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock’s 50 day simple moving average is $13.33 and its 200 day simple moving average is $13.17.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate 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 business posted $0.38 EPS. Equities research analysts expect that Huntington Bancshares will post 1.17 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction on Monday, April 29th. The shares were 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 in the company, valued at $5,365,807.23. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock valued at $2,148,623 over the last three months. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HBAN. Boston Partners raised its position in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after buying an additional 17,365,446 shares during the period. Norges Bank acquired a new position in Huntington Bancshares in the 4th quarter worth about $206,703,000. KBC Group NV increased its position in Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after purchasing an additional 3,729,974 shares during the last quarter. National Bank of Canada FI increased its position in Huntington Bancshares by 832.7% in the 1st 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 last quarter. Finally, Scout Investments Inc. acquired a new position in Huntington Bancshares in the 1st quarter worth about $35,428,000. 80.72% of the stock is owned by institutional investors and hedge funds.

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.