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

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.15.

Several brokerages have issued reports on HBAN. Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a report on Thursday, April 23rd. DA Davidson decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Stephens initiated coverage on Huntington Bancshares in a research report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings downgraded Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 18th.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $17.86 on Monday. Huntington Bancshares has a 12 month low of $14.89 and a 12 month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $16.60 and a two-hundred day simple moving average of $16.90. The firm has a market capitalization of $36.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.81 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the company posted $0.34 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the transaction, the executive vice president owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have bought 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in Huntington Bancshares by 24.5% during the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after acquiring an additional 104,965 shares during the period. Fieldview Capital Management LLC lifted its position in shares of Huntington Bancshares by 15.9% during the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after purchasing an additional 65,828 shares in the last quarter. KBC Group NV grew its holdings in shares of Huntington Bancshares by 16.3% in the fourth quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock valued at $48,941,000 after purchasing an additional 395,489 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Huntington Bancshares by 688.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock worth $1,500,000 after acquiring an additional 75,516 shares in the last quarter. Finally, Korea Investment CORP grew its stake in shares of Huntington Bancshares by 107.2% in the third quarter. Korea Investment CORP now owns 3,933,919 shares of the bank’s stock worth $67,939,000 after acquiring an additional 2,035,351 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

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.