Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $18.00 at Citigroup

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by Citigroup from $20.00 to $18.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other equities analysts have also recently weighed in on HBAN. Piper Sandler decreased their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group upped their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.26 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The stock’s 50-day moving average is $16.15 and its 200-day moving average is $16.14. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities analysts predict that Huntington Bancshares will post 1.39 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, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.06%. Huntington Bancshares’s payout ratio is presently 50.41%.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,060 shares of company stock valued at $1,620,142. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently bought and sold shares of the company. Carlson Capital Management raised its holdings in shares of Huntington Bancshares by 0.4% during the 4th quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock worth $2,661,000 after buying an additional 692 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock worth $200,000 after acquiring an additional 699 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Huntington Bancshares by 4.0% during the 4th quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after purchasing an additional 762 shares during the last quarter. Finally, Lantz Financial LLC increased its position in Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock worth $224,000 after purchasing an additional 790 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.