Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Recommendation of “Moderate Buy” by Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, sixteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.2368.

A number of analysts recently weighed in on the stock. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Thursday, July 3rd. Truist Financial increased their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Citigroup increased their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Saturday, September 27th. Finally, DA Davidson increased their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, July 21st.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.21 on Friday. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $18.44. The stock has a market cap of $25.11 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day moving average price of $17.12 and a 200 day moving average price of $16.02.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 45.93%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds have recently made changes to their positions in the company. Accurate Wealth Management LLC increased its position in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after buying an additional 611 shares during the period. LifeWealth Investments LLC increased its position in Huntington Bancshares by 2.3% during the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after buying an additional 632 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Huntington Bancshares by 0.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock worth $2,758,000 after purchasing an additional 668 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock worth $436,000 after purchasing an additional 691 shares in the last quarter. Finally, Winch Advisory Services LLC grew its holdings in shares of Huntington Bancshares by 18.3% during the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock worth $69,000 after purchasing an additional 709 shares in the last quarter. Institutional investors and hedge funds 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.