Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $17.56 Consensus Target Price from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.56.

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler lifted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th.

Huntington Bancshares Price Performance

HBAN opened at $16.38 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $16.89 and a 200 day moving average of $15.07. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44. The stock has a market cap of $23.80 billion, a P/E ratio of 15.75, a PEG ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.79%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 in the last three months. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Principal Financial Group Inc. raised its stake in shares of Huntington Bancshares by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock valued at $25,627,000 after buying an additional 112,146 shares during the last quarter. Franklin Resources Inc. raised its position in Huntington Bancshares by 3.2% during the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after acquiring an additional 55,602 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Huntington Bancshares in the third quarter valued at approximately $1,389,000. Arvest Bank Trust Division purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $2,381,000. Finally, Sanctuary Advisors LLC grew its stake in shares of Huntington Bancshares by 286.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 474,752 shares of the bank’s stock worth $6,979,000 after purchasing an additional 351,850 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

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.