Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by Keefe, Bruyette & Woods from $19.00 to $20.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research raised shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Thursday, July 3rd. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Stephens lifted their price target on shares of Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.76.

Huntington Bancshares Stock Down 0.4%

HBAN stock opened at $15.87 on Monday. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.75 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.44. The firm has a 50-day moving average of $17.05 and a two-hundred day moving average of $16.13.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. As a group, analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s payout ratio is presently 43.36%.

Insider Transactions at Huntington Bancshares

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

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of HBAN. Norges Bank bought a new stake in Huntington Bancshares in the 2nd quarter valued at $374,474,000. AQR Capital Management LLC lifted its position in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock worth $157,292,000 after buying an additional 7,889,004 shares in the last quarter. Invesco Ltd. lifted its position in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock worth $858,371,000 after buying an additional 4,586,607 shares in the last quarter. Amundi lifted its position in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock worth $330,395,000 after buying an additional 4,576,432 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Huntington Bancshares during the 1st quarter valued at about $50,078,000. Institutional investors own 80.72% of the company’s stock.

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.