Huntington Bancshares (NASDAQ:HBAN) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 price target on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Truist Financial began coverage on Huntington Bancshares in a research report on Tuesday, January 7th. They issued a “buy” rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Trading Up 0.5 %

Shares of HBAN stock opened at $17.10 on Tuesday. The business’s 50 day moving average is $17.04 and its two-hundred day moving average is $15.54. The company has a market cap of $24.84 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the business earned $0.27 EPS. Equities analysts predict that Huntington Bancshares will post 1.36 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.63%. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was 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 directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after buying an additional 1,522,767 shares during the period. Geode Capital Management LLC grew its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the period. FMR LLC grew its position in shares of Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after buying an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after buying an additional 2,363,988 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.