Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $19.92 Average PT from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.0263.

HBAN has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Royal Bank Of Canada lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Wall Street Zen lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. lifted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Barclays boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 12,832 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total value of $230,976.00. Following the completion of the sale, the executive vice president directly owned 239,473 shares of the company’s stock, valued at $4,310,514. This represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the sale, the insider owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 87,863 shares of company stock valued at $1,396,634 in the last 90 days. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $25,000. MTM Investment Management LLC acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $26,000. South Plains Financial Inc. grew its holdings in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the last quarter. Finally, Quarry LP increased its position in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after buying an additional 814 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Down 0.9%

HBAN stock opened at $18.14 on Monday. The firm has a market cap of $26.47 billion, a PE ratio of 12.69, a P/E/G ratio of 0.61 and a beta of 0.95. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $16.70 and a 200 day simple moving average of $16.79.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Monday, December 1st. The bank reported $0.67 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $580.00 million for the quarter. Equities research 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 declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Thursday, December 18th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, December 18th. Huntington Bancshares’s payout ratio is presently 43.36%.

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.