Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given an average rating of “Moderate Buy” by the twenty analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.6250.

A number of equities analysts have recently commented on HBAN shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. National Bank Financial set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. DA Davidson dropped their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.54 on Friday. Huntington Bancshares has a 1 year low of $11.91 and a 1 year high of $19.45. The company has a fifty day simple moving average of $17.09 and a 200 day simple moving average of $16.89. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The company has a market cap of $31.66 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.63 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced 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 firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the business earned $0.34 EPS. On average, sell-side analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Insider Transactions at Huntington Bancshares

In related news, Director Gary Torgow purchased 14,200 shares of Huntington Bancshares stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of $17.81 per share, with a total value of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Prashant Nateri sold 10,171 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the transaction, the insider owned 83,819 shares in the company, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently added to or reduced their stakes in HBAN. Empowered Funds LLC raised its stake in shares of Huntington Bancshares by 5.0% in the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after purchasing an additional 1,366 shares in the last quarter. Woodline Partners LP boosted its stake in Huntington Bancshares by 40.8% during the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after buying an additional 35,574 shares in the last quarter. SG Americas Securities LLC boosted its stake in Huntington Bancshares by 45.0% during the second quarter. SG Americas Securities LLC now owns 87,649 shares of the bank’s stock worth $1,469,000 after buying an additional 27,197 shares in the last quarter. Creative Planning increased its holdings in Huntington Bancshares by 11.8% in the 2nd quarter. Creative Planning now owns 357,594 shares of the bank’s stock valued at $5,993,000 after buying an additional 37,794 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in Huntington Bancshares by 17.9% in the 2nd quarter. Kingsview Wealth Management LLC now owns 29,779 shares of the bank’s stock valued at $499,000 after buying an additional 4,512 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.