Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $20.00 by Analysts at DA Davidson

Huntington Bancshares (NASDAQ:HBAN) had its price target trimmed by DA Davidson from $22.00 to $20.00 in a report released on Monday, MarketBeat.com reports. The firm currently has a buy rating on the bank’s stock.

Several other research firms have also issued reports on HBAN. Stephens reduced their price target on Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Friday, July 24th. Robert W. Baird lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Wells Fargo & Company lowered their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, September 16th. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.11.

Huntington Bancshares Trading Up 1.0%

NASDAQ HBAN opened at $16.04 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $32.41 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.91 and a beta of 0.92. The stock’s 50-day simple moving average is $17.21 and its two-hundred day simple moving average is $16.71. Huntington Bancshares has a twelve month low of $14.89 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the previous year, the company posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts forecast that Huntington Bancshares will post 1.53 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 48.06%.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall Kowalski sold 27,971 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the transaction, the insider directly owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. lifted its stake in shares of Huntington Bancshares by 3.0% in the first quarter. Values First Advisors Inc. now owns 20,564 shares of the bank’s stock worth $322,000 after acquiring an additional 604 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its stake in Huntington Bancshares by 6.1% during the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank’s stock valued at $190,000 after purchasing an additional 608 shares in the last quarter. MCF Advisors LLC grew its stake in Huntington Bancshares by 12.6% during the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after purchasing an additional 609 shares in the last quarter. Vestor Capital LLC increased its holdings in Huntington Bancshares by 13.0% during the 1st quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock worth $88,000 after purchasing an additional 648 shares during the last quarter. Finally, Balboa Wealth Partners increased its holdings in Huntington Bancshares by 2.5% during the 1st quarter. Balboa Wealth Partners now owns 27,042 shares of the bank’s stock worth $423,000 after purchasing an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, lending products, mortgage banking, wealth management, investment services, insurance, payment solutions and treasury management. Its lending activities include residential mortgages, auto loans, consumer credit, small-business financing and commercial loans.

Founded in 1866, Huntington serves customers through branches, digital banking channels and business offices across the Midwest and other selected markets.