Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $18.89 Consensus PT from Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned an average recommendation of “Moderate Buy” from the twenty-one research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.2368.

HBAN has been the subject of several research analyst reports. Morgan Stanley increased their target price on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Thursday, July 3rd. Finally, Jefferies Financial Group lifted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th.

Insider Activity

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in HBAN. Teacher Retirement System of Texas increased its position in Huntington Bancshares by 1,462.4% in the first quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock worth $3,188,000 after buying an additional 198,796 shares during the period. Czech National Bank increased its holdings in shares of Huntington Bancshares by 6.6% in the 2nd quarter. Czech National Bank now owns 356,096 shares of the bank’s stock worth $5,968,000 after acquiring an additional 22,190 shares during the period. Trinity Financial Advisors LLC lifted its position in Huntington Bancshares by 1,497.1% in the 2nd quarter. Trinity Financial Advisors LLC now owns 286,896 shares of the bank’s stock valued at $4,853,000 after purchasing an additional 268,933 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Huntington Bancshares by 11.9% during the 1st quarter. QRG Capital Management Inc. now owns 25,827 shares of the bank’s stock valued at $388,000 after purchasing an additional 2,751 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Huntington Bancshares by 13.5% during the 1st quarter. Brown Advisory Inc. now owns 36,467 shares of the bank’s stock valued at $547,000 after purchasing an additional 4,347 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 1.3%

Shares of HBAN opened at $17.04 on Friday. Huntington Bancshares has a one year low of $11.91 and a one year high of $18.44. The stock has a 50-day moving average price of $17.10 and a 200 day moving average price of $15.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $24.86 billion, a P/E ratio of 12.62, a P/E/G ratio of 0.83 and a beta of 0.96.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 17th. Huntington Bancshares’s payout ratio is 45.93%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.