Citigroup Issues Pessimistic Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price target reduced by Citigroup from $20.00 to $18.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

HBAN has been the topic of a number of other reports. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays increased their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a research report on Friday, March 7th. One 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.35 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm’s 50-day moving average is $16.21 and its 200-day moving average is $16.14. Huntington Bancshares has a 52-week low of $12.05 and a 52-week high of $18.45. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.33 and a beta of 1.07.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC lifted its stake in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Huntington Bancshares in the 4th quarter valued at about $37,000. Transce3nd LLC bought a new position in Huntington Bancshares during the fourth quarter worth about $48,000. Finally, Asset Dedication LLC increased its position in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

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.