Huntington Bancshares (NASDAQ:HBAN) Given New $20.00 Price Target at The Goldman Sachs Group

Huntington Bancshares (NASDAQ:HBAN) had its target price trimmed by The Goldman Sachs Group from $21.00 to $20.00 in a research note released on Monday morning,MarketScreener reports. The brokerage currently has a buy rating on the bank’s stock.

HBAN has been the subject of a number of other research reports. Royal Bank Of Canada dropped their price target on Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday. Raymond James Financial lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Morgan Stanley cut their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Jefferies Financial Group cut their price target on shares of Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Stephens boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.13.

Huntington Bancshares Price Performance

Shares of HBAN stock traded down $0.14 on Monday, reaching $15.80. The company’s stock had a trading volume of 817,993 shares, compared to its average volume of 33,603,895. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 12-month low of $12.08 and a 12-month high of $19.45. The company has a market capitalization of $32.19 billion, a P/E ratio of 11.41, a PEG ratio of 0.64 and a beta of 0.95. The stock’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $16.77.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data 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 return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $0.34 EPS. As a group, equities analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were given a $0.155 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s payout ratio is presently 44.60%.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the sale, the vice president owned 42,398 shares of the company’s stock, valued at approximately $802,594.14. This represents a 29.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James D. Rollins III acquired 1,127 shares of the business’s 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 purchase, the director directly owned 4,000 shares in the company, valued at $101,560. This represents a 39.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently made changes to their positions in HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. boosted its stake 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 in the last quarter. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares in the 4th quarter valued at $28,000. Finally, Accredited Wealth Management LLC boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.