Raymond James Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $15.50

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Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by Raymond James from $17.00 to $15.50 in a report published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the bank’s stock.

A number of other equities analysts have also commented on HBAN. DA Davidson reissued a neutral rating on shares of Huntington Bancshares in a report on Monday, November 18th. Barclays reissued a hold rating and issued a $17.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 7th. Bank of America lowered shares of Huntington Bancshares from a buy rating to a neutral rating and set a $15.00 price target on the stock. in a report on Friday, October 25th. Deutsche Bank lowered shares of Huntington Bancshares from a buy rating to a hold rating in a report on Monday, January 6th. Finally, ValuEngine lowered shares of Huntington Bancshares from a hold rating to a sell rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $15.08.

Shares of Huntington Bancshares stock opened at $13.49 on Friday. Huntington Bancshares has a 12-month low of $12.15 and a 12-month high of $15.63. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.82 and a beta of 1.46. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $14.82 and its 200-day moving average price is $14.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Huntington Bancshares had a net margin of 24.95% and a return on equity of 13.44%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned $0.29 earnings per share. On average, sell-side analysts predict that Huntington Bancshares will post 1.3 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, March 17th. Huntington Bancshares’s payout ratio is 47.24%.

In other news, EVP Paul G. Heller sold 7,144 shares of Huntington Bancshares stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $14.76, for a total value of $105,445.44. Also, insider Helga Houston sold 14,055 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $14.23, for a total value of $200,002.65. Following the completion of the sale, the insider now directly owns 474,498 shares of the company’s stock, valued at approximately $6,752,106.54. The disclosure for this sale can be found here. Insiders sold a total of 67,941 shares of company stock worth $987,623 in the last three months. Insiders own 1.22% of the company’s stock.

A number of hedge funds have recently modified their holdings of HBAN. Baystate Wealth Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $31,000. Synovus Financial Corp increased its stake in Huntington Bancshares by 135.5% in the 3rd quarter. Synovus Financial Corp now owns 2,777 shares of the bank’s stock worth $40,000 after purchasing an additional 1,598 shares during the period. Horan Capital Advisors LLC. purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $41,000. HM Payson & Co. purchased a new position in Huntington Bancshares in the 2nd quarter worth approximately $40,000. Finally, Golden State Wealth Management LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $43,000. Institutional investors own 74.96% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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