Huntington Bancshares (NASDAQ:HBAN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

HBAN has been the topic of several other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday. Argus lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Piper Sandler increased their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Bank of America increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.91.

Huntington Bancshares Price Performance

Shares of 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 market cap of $22.26 billion, a PE ratio of 13.84, a P/E/G ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a fifty day moving average price of $14.56 and a 200 day moving average price of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share 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 firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.36 earnings per share. Sell-side analysts forecast that Huntington Bancshares will post 1.18 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Activity

In related news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock valued at $1,762,904 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Dedication LLC raised its holdings in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the first quarter valued at approximately $29,000. Peoples Bank KS acquired a new stake in Huntington Bancshares in the third quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. raised its stake in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the period. Finally, Register Financial Advisors LLC acquired a new position in shares of Huntington Bancshares during the first quarter worth $40,000. Institutional investors and hedge funds 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.