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

Huntington Bancshares (NASDAQ:HBAN) had its target price increased by Piper Sandler from $15.00 to $17.50 in a research note published on Tuesday,Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.24.

Huntington Bancshares Trading Up 0.6 %

Huntington Bancshares stock opened at $17.70 on Tuesday. Huntington Bancshares has a 1 year low of $11.68 and a 1 year high of $18.44. The firm’s 50-day moving average is $16.24 and its 200-day moving average is $14.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $25.71 billion, a P/E ratio of 17.02, a PEG ratio of 3.52 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insider Activity at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. State Street Corp lifted its position in shares of Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. FMR LLC boosted its stake in Huntington Bancshares by 16.8% during the third quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Huntington Bancshares by 194.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after acquiring an additional 2,116,839 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after acquiring an additional 1,522,767 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.