Huntington Bancshares’ (HBAN) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBANFree Report) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $20.00 price target on the bank’s stock.

HBAN has been the topic of a number of other reports. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays increased their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Get Our Latest Stock Report on HBAN

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $17.17 on Thursday. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24.94 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 3.47 and a beta of 1.06. The firm has a 50-day moving average price of $16.65 and a two-hundred day moving average price of $14.85.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the business posted $0.36 earnings per share. Sell-side analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is 59.62%.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. boosted its stake in Huntington Bancshares by 4.9% in the second quarter. QRG Capital Management Inc. now owns 18,580 shares of the bank’s stock valued at $245,000 after buying an additional 868 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Huntington Bancshares by 26.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,649 shares of the bank’s stock valued at $1,761,000 after buying an additional 28,174 shares during the period. ORG Partners LLC raised its holdings in Huntington Bancshares by 354.9% in the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after buying an additional 2,594 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Huntington Bancshares by 2.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 230,854 shares of the bank’s stock worth $3,043,000 after buying an additional 5,261 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Huntington Bancshares by 1.5% in the second quarter. Assenagon Asset Management S.A. now owns 54,287 shares of the bank’s stock valued at $716,000 after purchasing an additional 814 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

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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.

Further Reading

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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