Huntington Bancshares (NASDAQ:HBAN) Research Coverage Started at Evercore ISI

Evercore ISI initiated coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note released on Tuesday morning. The brokerage issued an outperform rating and a $21.00 target price on the bank’s stock.

HBAN has been the subject of a number of other reports. Raymond James Financial upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Friday, January 23rd. TD Cowen boosted their target price on Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, Argus increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $20.48.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $19.02 on Tuesday. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.77 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $17.66 and a 200 day simple moving average of $16.93. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $19.19.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the business earned $0.34 EPS. On average, research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s payout ratio is 44.60%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the sale, the insider directly owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 2,481 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares in the company, valued at approximately $1,273,874.80. This represents a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 97,863 shares of company stock worth $1,581,634. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Huntington Bancshares by 5.0% in the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the period. Woodline Partners LP increased its position in Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after buying an additional 35,574 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Huntington Bancshares by 7.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 194,869 shares of the bank’s stock worth $3,266,000 after buying an additional 13,288 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Huntington Bancshares during the 2nd quarter valued at about $66,000. Finally, QRG Capital Management Inc. grew its stake in shares of Huntington Bancshares by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 27,344 shares of the bank’s stock valued at $458,000 after acquiring an additional 1,517 shares during the period. Institutional investors own 80.72% of the company’s stock.

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.