Huntington Bancshares (NASDAQ:HBAN) Earns Overweight Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Monday, Benzinga reports. The brokerage currently has a $16.00 price target on the bank’s stock.

HBAN has been the topic of a number of other research reports. Stephens reissued an equal weight rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday. StockNews.com downgraded Huntington Bancshares from a hold rating to a sell rating in a research report on Friday, December 29th. Barclays raised Huntington Bancshares from an underweight rating to an equal weight rating and raised their price objective for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Royal Bank of Canada raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an outperform rating in a research report on Tuesday, April 9th. Finally, Evercore ISI raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an outperform rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $15.17.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $13.76 on Monday. The stock’s fifty day moving average is $13.33 and its two-hundred day moving average is $12.22. The company has a market capitalization of $19.95 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 52 week low of $9.13 and a 52 week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 over the last ninety days. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the first quarter valued at $29,000. Wetzel Investment Advisors Inc. purchased a new stake in Huntington Bancshares in the fourth quarter valued at $29,000. Nemes Rush Group LLC raised its position in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the period. Planned Solutions Inc. purchased a new stake in Huntington Bancshares in the fourth quarter valued at $33,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.