Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $20.63 Average Target Price from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $20.6250.

Several brokerages recently commented on HBAN. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, January 12th. Barclays raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Raymond James Financial boosted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Friday, January 23rd. Morgan Stanley upped their target price on Huntington Bancshares from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, UBS Group set a $21.00 price target on Huntington Bancshares in a research note on Wednesday, February 4th.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.08 on Friday. The stock’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $16.87. The firm has a market capitalization of $30.72 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.63 and a beta of 0.95. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate 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 $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director Gary Torgow acquired 14,200 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were bought at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the purchase, the director owned 943,341 shares in the company, valued at $16,800,903.21. This trade represents a 1.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James D. Rollins III bought 1,127 shares of Huntington Bancshares stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $25.39 per share, with a total value of $28,614.53. Following the completion of the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at approximately $101,560. The trade was a 39.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in HBAN. MV Capital Management Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $26,000. South Plains Financial Inc. raised its stake in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the last quarter. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth $28,000. Finally, Accredited Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

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.