Morgan Stanley Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $16.00

Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by Morgan Stanley from $15.00 to $16.00 in a research note published on Monday, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

HBAN has been the topic of a number of other research reports. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an overweight rating on the stock in a report on Thursday, June 27th. Argus raised their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a buy rating in a report on Monday. Evercore ISI dropped their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, Piper Sandler lifted their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an underweight rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned 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.com, the stock has an average rating of Moderate Buy and a consensus price target of $15.50.

Huntington Bancshares Stock Up 0.9 %

HBAN stock opened at $15.06 on Monday. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The business’s 50-day moving average is $13.43 and its two-hundred day moving average is $13.29. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.08 and a beta of 1.06.

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

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were 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 of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Rajeev Syal sold 27,265 shares of the business’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 owns 397,173 shares of the company’s stock, valued at $5,365,807.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,418 shares of company stock valued at $2,214,979. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its position in Huntington Bancshares by 8.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after purchasing an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the last quarter. KBC Group NV increased its position in Huntington Bancshares by 715.0% in the fourth 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. Tower Research Capital LLC TRC increased its position in Huntington Bancshares by 160.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 206,193 shares of the bank’s stock worth $2,623,000 after purchasing an additional 126,900 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Huntington Bancshares by 43.4% in the fourth quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after purchasing an additional 1,371 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.