Huntington Bancshares (NASDAQ:HBAN) Cut to Peer Perform at Wolfe Research

Wolfe Research cut shares of Huntington Bancshares (NASDAQ:HBAN) from an outperform rating to a peer perform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

Several other research analysts have also commented on HBAN. TD Cowen began coverage on shares of Huntington Bancshares in a research note on Thursday, October 8th. They set a “buy” rating and a $18.00 price target on the stock. UBS Group set a $18.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Tuesday, August 18th. Citigroup decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Monday. Finally, Stephens lowered their target price on shares of Huntington Bancshares from $19.00 to $18.00 in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $18.95.

Huntington Bancshares Stock Up 1.7%

Shares of Huntington Bancshares stock opened at $15.97 on Tuesday. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.01 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares has a 52-week low of $14.82 and a 52-week high of $19.45. The stock has a 50-day simple moving average of $15.98 and a 200-day simple moving average of $16.71.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be issued a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 51.24%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider owned 70,025 shares of the company’s stock, valued at $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Rollins, III acquired 14,000 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were purchased at an average cost of $18.12 per share, with a total value of $253,680.00. Following the completion of the acquisition, the director owned 15,500 shares in the company, valued at $280,860. This trade represents a 933.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently made changes to their positions in HBAN. Corient Private Wealth LP acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at $21,187,000. Equitable Holdings Inc. bought a new position in shares of Huntington Bancshares in the 2nd quarter worth $1,093,000. Bank of America Corp DE acquired a new stake in shares of Huntington Bancshares during the second quarter worth $256,772,000. Hsbc Holdings PLC grew its stake in shares of Huntington Bancshares by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after purchasing an additional 1,652,464 shares during the period. Finally, Community Trust & Investment Co. bought a new stake in Huntington Bancshares in the third quarter valued at about $3,131,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.