Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $20.13

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.1250.

Several research analysts recently commented on HBAN shares. UBS Group set a $21.00 price target on shares of Huntington Bancshares in a report on Wednesday, February 4th. Evercore cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. DA Davidson lowered their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Finally, Jefferies Financial Group dropped their target price on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, March 5th.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $16.97 on Wednesday. Huntington Bancshares has a 1-year low of $13.60 and a 1-year high of $19.45. The business’s 50-day simple moving average is $16.36 and its 200-day simple moving average is $16.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $34.57 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.74 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the business posted $0.34 EPS. Equities analysts predict that Huntington Bancshares will post 1.61 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.7%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III purchased 1,127 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $25.39 per share, with a total value of $28,614.53. Following the acquisition, the director owned 4,000 shares in the company, valued at approximately $101,560. This trade represents a 39.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Torgow purchased 14,200 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the purchase, the director directly owned 943,341 shares in the company, valued at $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 27,700 shares of company stock valued at $540,401 and have sold 98,986 shares valued at $1,600,958. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently modified their holdings of the business. Sagespring Wealth Partners LLC lifted its stake in shares of Huntington Bancshares by 2.4% in the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after acquiring an additional 587 shares in the last quarter. Values First Advisors Inc. grew its stake in Huntington Bancshares by 3.0% during the 1st quarter. Values First Advisors Inc. now owns 20,564 shares of the bank’s stock valued at $322,000 after purchasing an additional 604 shares in the last quarter. MCF Advisors LLC grew its stake in Huntington Bancshares by 12.6% during the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock valued at $95,000 after purchasing an additional 609 shares in the last quarter. Parcion Private Wealth LLC increased its holdings in Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after purchasing an additional 648 shares during the last quarter. Finally, Balboa Wealth Partners raised its position in shares of Huntington Bancshares by 2.5% in the 1st quarter. Balboa Wealth Partners now owns 27,042 shares of the bank’s stock valued at $423,000 after purchasing an additional 662 shares in the last quarter. 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.