Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.59.

Several brokerages have issued reports on HBAN. UBS Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. JPMorgan Chase & Co. dropped their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Keefe, Bruyette & Woods dropped their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Citigroup lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $14.86 on Tuesday. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.24. The business has a 50-day simple moving average of $14.36 and a 200 day simple moving average of $13.74. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21.54 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.90 and a beta of 1.05.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping 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 business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the business earned $0.35 earnings per share. On average, research analysts forecast that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced 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 is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.17%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Activity at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Huntington Bancshares news, 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 value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now directly owns 11,111 shares in the company, valued at $167,331.66. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 over the last 90 days. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $206,703,000. Boston Partners increased its stake in shares of Huntington Bancshares by 20.4% in the 1st 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 in the last quarter. KBC Group NV raised its holdings 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 period. National Bank of Canada FI lifted its position in 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 valued at $46,927,000 after purchasing an additional 2,979,768 shares in the last quarter. Finally, Scout Investments Inc. bought a new stake in Huntington Bancshares during the first quarter valued at about $35,428,000. Hedge funds and other 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.