Huntington Bancshares (NASDAQ:HBAN) Stock Gets Price Target Reduction from Truist Financial

Huntington Bancshares (NASDAQ:HBAN) had its price objective trimmed by Truist Financial from $19.00 to $18.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

HBAN has been the subject of a number of other reports. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, August 18th. Citigroup decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday. Wolfe Research lowered Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. Stephens dropped their target price on Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Finally, Jefferies Financial Group cut their target price on Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.98.

Huntington Bancshares Stock Down 1.2%

HBAN stock opened at $15.78 on Wednesday. Huntington Bancshares has a twelve month low of $14.82 and a twelve month high of $19.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.59. The company has a market cap of $31.88 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.95. The business’s 50-day simple moving average is $15.96 and its 200 day simple moving average is $16.70.

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

Huntington Bancshares Announces Dividend

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

Insider Activity

In related news, Director James D. Rollins III acquired 14,000 shares of the stock in a transaction on Monday, October 26th. The stock was purchased at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the transaction, the director owned 15,500 shares of the company’s stock, valued at $280,860. The trade was a 933.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary Torgow bought 12,700 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was bought at an average cost of $15.73 per share, with a total value of $199,771.00. Following the completion of the purchase, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. The trade was a 1.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in HBAN. Corient Private Wealth LP purchased a new position in shares of Huntington Bancshares in the 2nd quarter worth approximately $21,187,000. Equitable Holdings Inc. bought a new position in Huntington Bancshares in the 2nd quarter valued at $1,093,000. Bank of America Corp DE bought a new position in Huntington Bancshares in the 2nd quarter valued at $256,772,000. Hsbc Holdings PLC increased its position in shares of Huntington Bancshares by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after purchasing an additional 1,652,464 shares during the last quarter. Finally, Community Trust & Investment Co. purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $3,131,000. Institutional investors 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.