Morgan Stanley Increases Huntington Bancshares (HBAN) Price Target to $16.50
Huntington Bancshares (NASDAQ:HBAN) had its price target lifted by Morgan Stanley from $14.50 to $16.50 in a research report report published on Wednesday morning. The brokerage currently has an equal weight rating on the bank’s stock.
Several other equities research analysts also recently weighed in on HBAN. JMP Securities started coverage on Huntington Bancshares in a research report on Thursday, August 31st. They issued an outperform rating and a $15.00 target price for the company. Royal Bank of Canada reissued a buy rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Friday, September 8th. Sanford C. Bernstein raised Huntington Bancshares from a market perform rating to an outperform rating and increased their price target for the company from $15.00 to $17.00 in a report on Thursday, September 14th. Keefe, Bruyette & Woods reissued a hold rating and issued a $14.25 price target on shares of Huntington Bancshares in a report on Friday, October 13th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $15.50 price target on shares of Huntington Bancshares in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $15.63.
Shares of Huntington Bancshares (HBAN) opened at $14.58 on Wednesday. Huntington Bancshares has a 1 year low of $12.14 and a 1 year high of $14.93. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $15,760.19, a PE ratio of 15.19, a PEG ratio of 1.66 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be issued a $0.11 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a yield of 3.02%. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. Huntington Bancshares’s dividend payout ratio is currently 39.51%.
In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the sale, the executive vice president now owns 427,270 shares in the company, valued at $5,930,507.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Helga Houston sold 14,513 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the sale, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HBAN. Capital International Investors raised its stake in Huntington Bancshares by 22.6% during the second quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock valued at $593,788,000 after buying an additional 8,101,400 shares in the last quarter. Vanguard Group Inc. raised its stake in Huntington Bancshares by 2.4% during the second quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after buying an additional 2,558,854 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Huntington Bancshares by 20.1% during the second quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock valued at $167,172,000 after buying an additional 2,065,131 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new stake in Huntington Bancshares during the third quarter valued at approximately $23,872,000. Finally, Nationwide Fund Advisors raised its stake in Huntington Bancshares by 430.6% during the second quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock valued at $21,914,000 after buying an additional 1,315,390 shares in the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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