Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Recommendation of “Moderate Buy” from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.56.

A number of brokerages recently weighed in on HBAN. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler upped their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in HBAN. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS acquired a new position in shares of Huntington Bancshares during the third quarter worth approximately $29,000. Hazlett Burt & Watson Inc. boosted its position in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the third quarter worth $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the 3rd quarter valued at $32,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.1 %

HBAN opened at $16.46 on Thursday. The stock’s fifty day moving average is $16.85 and its 200-day moving average is $15.02. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. The company has a market capitalization of $23.91 billion, a PE ratio of 15.83, a P/E/G ratio of 3.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued 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. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company earned $0.36 EPS. On average, equities analysts predict that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.