Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $18.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by JPMorgan Chase & Co. from $17.50 to $18.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other analysts have also recently issued reports about the stock. Truist Financial reduced their price objective on shares of Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Zacks Research downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday, October 8th. They set a “buy” rating and a $18.00 price objective on the stock. Weiss Ratings cut Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 27th. Finally, Wolfe Research lowered Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.98.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.78 on Friday. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $16.70. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. Huntington Bancshares has a 52 week low of $14.82 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $0.41 EPS. Sell-side analysts anticipate that Huntington Bancshares will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be issued a $0.1550 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is 51.24%.

Insiders Place Their Bets

In other news, Director Gary Torgow bought 12,700 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was bought at an average cost of $15.73 per share, with a total value of $199,771.00. Following the transaction, the director directly owned 956,041 shares in the company, valued at $15,038,524.93. The trade was a 1.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Rollins, III bought 14,000 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average cost of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the transaction, the director directly owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Henrickson Nauta Wealth Advisors Inc. raised its position in Huntington Bancshares by 6.1% during the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank’s stock valued at $190,000 after buying an additional 608 shares during the period. Vestor Capital LLC lifted its position in shares of 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 buying an additional 648 shares during the period. Rehmann Capital Advisory Group increased its position in Huntington Bancshares by 5.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 12,151 shares of the bank’s stock valued at $215,000 after acquiring an additional 679 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock valued at $34,000 after buying an additional 707 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Huntington Bancshares by 10.1% in the 3rd quarter. Versant Capital Management Inc now owns 7,693 shares of the bank’s stock valued at $117,000 after acquiring an additional 708 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.