Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $20.26 Consensus Target Price from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given an average rating of “Moderate Buy” by the twenty-one research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.2632.

A number of brokerages have recently commented on HBAN. Jefferies Financial Group boosted their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Piper Sandler increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. Evercore ISI assumed coverage on shares of Huntington Bancshares in a report on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 6th.

Huntington Bancshares Stock Up 1.1%

Huntington Bancshares stock opened at $17.48 on Friday. The firm has a market capitalization of $27.53 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.71 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $18.91. The stock’s fifty day simple moving average is $17.46 and its 200-day simple moving average is $16.88.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $17.80, for a total value of $44,161.80. Following the transaction, the insider directly owned 71,566 shares in the company, valued at $1,273,874.80. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the sale, the insider directly owned 534,640 shares in the company, valued at approximately $8,222,763.20. The trade was a 10.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 97,863 shares of company stock worth $1,581,634. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. MTM Investment Management LLC acquired a new position in Huntington Bancshares in the second quarter valued at $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. lifted its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the last quarter. Accredited Wealth Management LLC boosted its position in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Huntington Bancshares during the 2nd quarter worth approximately $30,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.