Wedbush upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to an outperform rating in a report published on Monday, Analyst Ratings Network reports. Wedbush currently has $12.50 price target on the bank’s stock, up from their previous price target of $10.50. Wedbush also issued estimates for Huntington Bancshares’ Q4 2020 earnings at $0.32 EPS, FY2020 earnings at $0.74 EPS, Q1 2021 earnings at $0.30 EPS, Q2 2021 earnings at $0.29 EPS, Q3 2021 earnings at $0.30 EPS, Q4 2021 earnings at $0.30 EPS and FY2021 earnings at $1.19 EPS.
Several other research firms have also recently weighed in on HBAN. Raymond James restated a buy rating and set a $12.00 price target on shares of Huntington Bancshares in a report on Monday, September 14th. Bank of America reduced their price target on Huntington Bancshares from $12.00 to $11.00 and set a buy rating on the stock in a report on Friday, July 10th. Wolfe Research began coverage on Huntington Bancshares in a report on Friday, July 31st. They set an outperform rating on the stock. BMO Capital Markets boosted their price target on Huntington Bancshares from $9.00 to $10.00 and gave the stock a market perform rating in a report on Friday, July 24th. Finally, Piper Sandler reduced their price target on Huntington Bancshares from $10.50 to $10.00 and set a neutral rating on the stock in a report on Tuesday, September 29th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $10.31.
Huntington Bancshares stock opened at $10.14 on Monday. Huntington Bancshares has a 12-month low of $6.82 and a 12-month high of $15.63. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $9.24. The stock has a market cap of $10.31 billion, a PE ratio of 12.99, a P/E/G ratio of 2.94 and a beta of 1.47.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 22nd. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Huntington Bancshares had a return on equity of 8.35% and a net margin of 16.27%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts expect that Huntington Bancshares will post 0.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.92%. The ex-dividend date is Thursday, December 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.24%.
Large investors have recently modified their holdings of the company. CX Institutional raised its position in shares of Huntington Bancshares by 134.1% during the third quarter. CX Institutional now owns 194,033 shares of the bank’s stock worth $1,779,000 after purchasing an additional 111,166 shares during the period. Advisor Group Holdings Inc. acquired a new position in shares of Huntington Bancshares during the first quarter worth approximately $1,867,000. Mackay Shields LLC raised its position in shares of Huntington Bancshares by 3.5% during the second quarter. Mackay Shields LLC now owns 165,607 shares of the bank’s stock worth $1,497,000 after purchasing an additional 5,545 shares during the period. OPSEU Pension Plan Trust Fund acquired a new position in shares of Huntington Bancshares during the second quarter worth approximately $586,000. Finally, Handelsbanken Fonder AB acquired a new position in shares of Huntington Bancshares during the second quarter worth approximately $2,257,000. 71.45% of the stock is currently owned by institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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