Huntington Bancshares (NASDAQ:HBAN) Given New $17.00 Price Target at Piper Sandler

Huntington Bancshares (NASDAQ:HBAN) had its target price cut by Piper Sandler from $17.50 to $17.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. DA Davidson boosted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Truist Financial boosted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.10 on Tuesday. The business’s 50 day moving average price is $17.04 and its two-hundred day moving average price 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 twelve month low of $12.05 and a twelve month high of $18.44.

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

Huntington Bancshares Dividend Announcement

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

Insider Activity

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HBAN. Lantz Financial LLC grew its holdings in Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock worth $224,000 after acquiring an additional 790 shares during the period. Geneos Wealth Management Inc. grew its holdings in Huntington Bancshares by 3.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 297,134 shares of the bank’s stock worth $4,834,000 after acquiring an additional 10,191 shares during the period. Exchange Traded Concepts LLC grew its holdings in Huntington Bancshares by 10.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 280,709 shares of the bank’s stock worth $4,567,000 after acquiring an additional 27,406 shares during the period. CX Institutional grew its holdings in Huntington Bancshares by 8.1% during the 4th quarter. CX Institutional now owns 19,192 shares of the bank’s stock worth $312,000 after acquiring an additional 1,444 shares during the period. Finally, McGlone Suttner Wealth Management Inc. grew its holdings in Huntington Bancshares by 7.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank’s stock worth $191,000 after acquiring an additional 795 shares during the period. 80.72% of the stock is owned by institutional investors.

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.