Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $17.50

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by DA Davidson from $16.50 to $17.50 in a research report report published on Monday, Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.30 EPS, FY2024 earnings at $1.22 EPS and FY2025 earnings at $1.34 EPS.

A number of other research analysts have also recently commented on HBAN. Evercore ISI reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Barclays raised their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.03.

Huntington Bancshares Trading Up 0.1 %

Shares of HBAN opened at $15.56 on Monday. The firm’s 50 day simple moving average is $14.72 and its 200 day simple moving average is $13.98. The company has a market capitalization of $22.55 billion, a P/E ratio of 14.02, 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. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $16.03.

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

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,793 shares of company stock valued at $405,439. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently modified their holdings of the stock. Boston Partners raised its position 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 during the last quarter. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after acquiring an additional 65,355 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Huntington Bancshares by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after acquiring an additional 561,565 shares during the period. Hsbc Holdings PLC lifted its holdings in Huntington Bancshares by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after purchasing an additional 566,015 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings 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 in the last quarter. 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.