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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.6579.

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. TD Cowen lifted their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Cowen restated a “buy” rating on shares of Huntington Bancshares in a report on Monday, October 20th. Keefe, Bruyette & Woods raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Finally, Morgan Stanley boosted their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.88 on Friday. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.66 and a beta of 1.01. The business has a 50 day moving average of $16.24 and a 200 day moving average of $16.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The firm had revenue of $469.00 million for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. On average, sell-side analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 43.36%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 6,416 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $15.65, for a total value of $100,410.40. Following the sale, the executive vice president owned 252,305 shares of the company’s stock, valued at $3,948,573.25. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Inglis acquired 6,506 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $15.30 per share, with a total value of $99,541.80. Following the completion of the purchase, the director owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. The trade was a 7.81% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in HBAN. Family Legacy Financial Solutions LLC bought a new stake in Huntington Bancshares in the second quarter valued at $25,000. MTM Investment Management LLC purchased a new position in shares of Huntington Bancshares during the second quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares in the third quarter worth about $26,000. South Plains Financial Inc. raised its stake in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Finally, Quarry LP lifted its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after buying an additional 814 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.