Huntington Bancshares (NASDAQ:HBAN) Shares Gap Up to $11.12

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $11.12, but opened at $13.02. Huntington Bancshares shares last traded at $12.00, with a volume of 9,474,628 shares traded.

Analysts Set New Price Targets

Several brokerages have weighed in on HBAN. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. JPMorgan Chase & Co. lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $15.50 to $14.50 in a research report on Tuesday, December 13th. Royal Bank of Canada lowered their price target on Huntington Bancshares from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday. DA Davidson started coverage on shares of Huntington Bancshares in a report on Tuesday, December 20th. They set a “neutral” rating and a $15.00 price objective on the stock. They noted that the move was a valuation call. Finally, Piper Sandler lowered their target price on shares of Huntington Bancshares from $15.00 to $14.50 in a research note on Friday, March 10th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.47.

Huntington Bancshares Stock Down 1.8 %

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.62. The stock has a market cap of $15.73 billion, a PE ratio of 7.48, a P/E/G ratio of 0.27 and a beta of 1.11. The business has a 50 day moving average price of $14.73 and a 200 day moving average price of $14.40.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 20th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Friday, March 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.71%. Huntington Bancshares’s payout ratio is 42.76%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the transaction, the director now owns 62,845 shares in the company, valued at $943,303.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently bought and sold shares of the business. Financial Advocates Investment Management boosted its position in Huntington Bancshares by 2.1% during the third quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank’s stock worth $439,000 after purchasing an additional 678 shares in the last quarter. Assetmark Inc. boosted its position in Huntington Bancshares by 4.4% during the third quarter. Assetmark Inc. now owns 16,156 shares of the bank’s stock worth $213,000 after purchasing an additional 680 shares in the last quarter. Ballentine Partners LLC boosted its position in Huntington Bancshares by 5.5% during the fourth quarter. Ballentine Partners LLC now owns 13,096 shares of the bank’s stock worth $185,000 after purchasing an additional 681 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Huntington Bancshares by 6.8% in the third quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank’s stock valued at $151,000 after acquiring an additional 729 shares in the last quarter. Finally, Farmers Trust Co. lifted its position in shares of Huntington Bancshares by 0.7% in the fourth quarter. Farmers Trust Co. now owns 103,156 shares of the bank’s stock valued at $1,454,000 after acquiring an additional 767 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Huntington Bancshares Company Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.