Huntington Bancshares (NASDAQ:HBAN) Sets New 52-Week High – Still a Buy?

Huntington Bancshares Incorporated (NASDAQ:HBAN) reached a new 52-week high during trading on Friday . The stock traded as high as $15.31 and last traded at $15.24, with a volume of 455471 shares traded. The stock had previously closed at $14.96.

Analyst Ratings Changes

A number of brokerages have weighed in on HBAN. Royal Bank of Canada boosted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research report on Thursday, June 27th. Argus raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Bank of America raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Huntington Bancshares Trading Up 2.9 %

The stock has a market capitalization of $22.35 billion, a PE ratio of 14.52, a PEG ratio of 2.77 and a beta of 1.04. The stock’s 50 day moving average price is $14.35 and its 200-day moving average price is $13.87. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business posted $0.35 EPS. On average, sell-side analysts expect that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 58.49%.

Insiders Place Their Bets

In other news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock worth $1,762,904 in the last three months. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several large investors have recently bought and sold shares of HBAN. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the first quarter worth approximately $29,000. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. raised its holdings in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the period. Register Financial Advisors LLC bought a new stake in Huntington Bancshares in the first quarter worth $40,000. Finally, ORG Partners LLC increased its position in Huntington Bancshares by 354.9% during the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.