Piper Sandler Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by Piper Sandler from $15.00 to $17.50 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other analysts have also recently commented on HBAN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson boosted their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Barclays boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.76.

Huntington Bancshares Trading Down 0.8 %

Shares of NASDAQ HBAN opened at $17.63 on Tuesday. Huntington Bancshares has a fifty-two week low of $11.57 and a fifty-two week high of $18.44. The firm has a market capitalization of $25.61 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company’s 50 day simple moving average is $16.12 and its 200 day simple moving average is $14.64.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the business posted $0.36 EPS. On average, analysts predict that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.52%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. Asset Dedication LLC raised its holdings in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the period. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the third quarter worth approximately $29,000. Hazlett Burt & Watson Inc. lifted its holdings in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares in the 3rd quarter valued at $32,000. Institutional investors and hedge funds 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.