Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $15.59 Consensus Price Target from Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $15.59.

A number of research firms have weighed in on HBAN. Evercore ISI reduced their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Jefferies Financial Group cut their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, July 26th.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at $4,021,690.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 123,900 shares of company stock worth $1,862,176 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HBAN. Boston Partners boosted its stake in Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after buying an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 0.4% in the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after buying an additional 65,355 shares in the last quarter. Norges Bank acquired a new stake in Huntington Bancshares in the fourth quarter valued at about $206,703,000. Dimensional Fund Advisors LP boosted its stake in Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after buying an additional 561,565 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Huntington Bancshares by 3.1% during the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock valued at $103,276,000 after purchasing an additional 225,911 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Trading Down 0.1 %

NASDAQ:HBAN opened at $14.59 on Friday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $15.24. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $13.77 and a two-hundred day moving average price of $13.53. The company has a market cap of $21.14 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 2.94 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, analysts expect that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

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.