Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have earned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.05.

Several research firms recently commented on HBAN. Piper Sandler raised Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Thursday, April 23rd. DA Davidson decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Royal Bank Of Canada decreased their target price on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Truist Financial decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Finally, Wall Street Zen raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Insider Buying and Selling

In other Huntington Bancshares news, Director James D. Rollins III bought 4,798 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $20.30 per share, with a total value of $97,399.40. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $203,000. This trade represents a 92.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 33,500 shares of company stock worth $617,542 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the period. State Street Corp grew its stake in Huntington Bancshares by 4.7% in the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares during the period. Wellington Management Group LLP grew its stake in Huntington Bancshares by 4,265.5% in the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Boston Partners grew its stake in Huntington Bancshares by 3.9% in the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the period. Finally, Invesco Ltd. grew its stake in Huntington Bancshares by 6.6% in the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after acquiring an additional 3,908,927 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 0.1%

Shares of HBAN stock opened at $16.84 on Thursday. The stock has a market cap of $34.14 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.76 and a beta of 0.94. The stock has a 50-day moving average of $16.23 and a 200-day moving average of $16.82. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a 1-year low of $14.89 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, equities research analysts forecast that Huntington Bancshares will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

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.