Huntington Bancshares (NASDAQ:HBAN) Upgraded by Wells Fargo & Company to “Strong-Buy” Rating

Wells Fargo & Company upgraded shares of Huntington Bancshares (NASDAQ:HBAN) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on HBAN. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Robert W. Baird boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. UBS Group increased their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group set a $18.00 target price on Huntington Bancshares in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.24.

Huntington Bancshares Stock Up 0.2%

HBAN stock opened at $17.95 on Monday. The firm has a market cap of $36.27 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 0.85 and a beta of 0.94. Huntington Bancshares has a 1-year low of $14.89 and a 1-year high of $19.45. The firm has a fifty day moving average price of $17.59 and a two-hundred day moving average price of $16.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts predict that Huntington Bancshares will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s payout ratio is currently 48.06%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 27,971 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. The trade was a 28.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders purchased 22,000 shares of company stock valued at $401,219 and sold 262,061 shares valued at $4,549,432. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares in the 4th quarter worth $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the third quarter valued at about $26,000. Centennial Bank AR acquired a new position in Huntington Bancshares during the fourth quarter worth about $28,000. Trust Co. of Vermont bought a new stake in Huntington Bancshares in the second quarter worth about $29,000. Finally, Johnson Financial Group Inc. acquired a new stake in Huntington Bancshares in the 2nd quarter valued at about $31,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.