Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.89.

HBAN has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Evercore dropped their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. Robert W. Baird dropped their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Wells Fargo & Company cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Finally, Morgan Stanley downgraded shares of Huntington Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $21.00 to $19.00 in a research report on Friday, July 24th.

Huntington Bancshares Trading Down 0.9%

Shares of Huntington Bancshares stock opened at $15.47 on Friday. The stock has a fifty day simple moving average of $15.84 and a 200 day simple moving average of $16.65. Huntington Bancshares has a 12-month low of $14.82 and a 12-month high of $19.45. The company has a market capitalization of $31.26 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period last year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that Huntington Bancshares will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 18th will be given a dividend of $0.1550 per share. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 51.24%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director James Rollins, III bought 14,000 shares of Huntington Bancshares stock in a transaction dated Monday, October 26th. The stock was bought at an average cost of $18.12 per share, with a total value of $253,680.00. Following the completion of the acquisition, the director directly owned 15,500 shares in the company, valued at approximately $280,860. The trade was a 933.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Donnell White sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total value of $47,610.00. Following the sale, the senior vice president directly owned 23,697 shares of the company’s stock, valued at $376,071.39. The trade was a 11.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently made changes to their positions in the business. Means Investment CO. Inc. purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth about $165,000. Trust Co. of Vermont purchased a new stake in Huntington Bancshares during the second quarter worth about $29,000. TD Waterhouse Canada Inc. increased its holdings in Huntington Bancshares by 90.7% during the third quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank’s stock worth $26,000 after buying an additional 800 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Huntington Bancshares during the second quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Huntington Bancshares in the second quarter worth about $35,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.