Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $20.26 Average Target Price from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fourteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.4762.

A number of research analysts have recently commented on HBAN shares. Stephens increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Piper Sandler increased their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, January 12th. National Bankshares set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday. Finally, Zacks Research downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $19.02 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $19.19. The firm’s fifty day simple moving average is $17.66 and its 200-day simple moving average is $16.93. The company has a market capitalization of $29.95 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.77 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its 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 return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the company earned $0.34 earnings per share. Sell-side analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.3%. Huntington Bancshares’s payout ratio is presently 44.60%.

Insiders Place Their Bets

In other news, insider Amit Dhingra sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president owned 239,473 shares in the company, valued at approximately $4,310,514. The trade was a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 97,863 shares of company stock worth $1,581,634 in the last 90 days. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares during the period. Boston Partners raised its holdings in Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares in the last quarter. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock worth $1,020,017,000 after acquiring an additional 861,263 shares during the period. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock worth $658,541,000 after acquiring an additional 640,852 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after purchasing an additional 4,640,302 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.