Morgan Stanley Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price target decreased by Morgan Stanley from $22.00 to $20.00 in a research note published on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

HBAN has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Citigroup lifted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.35.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.75 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a 1 year low of $12.05 and a 1 year high of $18.45. The stock’s 50-day moving average is $16.37 and its two-hundred day moving average is $16.12. The firm has a market cap of $21.55 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company earned $0.27 EPS. Analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.20%. Huntington Bancshares’s dividend payout ratio is presently 50.41%.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its position in Huntington Bancshares by 24.0% during the 3rd quarter. Assetmark Inc. now owns 128,396 shares of the bank’s stock worth $1,887,000 after purchasing an additional 24,879 shares during the period. Atria Investments Inc boosted its position in Huntington Bancshares by 8.5% during the 3rd quarter. Atria Investments Inc now owns 248,687 shares of the bank’s stock worth $3,656,000 after purchasing an additional 19,484 shares during the period. Covestor Ltd boosted its position in Huntington Bancshares by 30.5% during the 3rd quarter. Covestor Ltd now owns 6,173 shares of the bank’s stock worth $91,000 after purchasing an additional 1,443 shares during the period. Apollon Wealth Management LLC purchased a new stake in Huntington Bancshares during the 3rd quarter worth $232,000. Finally, GSA Capital Partners LLP boosted its position in Huntington Bancshares by 21.2% during the 3rd quarter. GSA Capital Partners LLP now owns 37,529 shares of the bank’s stock worth $552,000 after purchasing an additional 6,569 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.