The Goldman Sachs Group Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its target price lifted by The Goldman Sachs Group from $16.25 to $20.00 in a report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the bank’s stock.

A number of other analysts also recently issued reports on HBAN. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Piper Sandler boosted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.62.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $18.01 on Tuesday. The business’s 50-day simple moving average is $15.99 and its two-hundred day simple moving average is $14.58. Huntington Bancshares has a 52 week low of $11.10 and a 52 week high of $18.44. The stock has a market cap of $26.17 billion, a PE ratio of 17.29, a P/E/G ratio of 3.59 and a beta of 1.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.36 EPS. As a group, analysts forecast that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Activity

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its position in Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after acquiring an additional 55,602 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Huntington Bancshares during the third quarter valued at about $1,389,000. Arvest Bank Trust Division purchased a new position in Huntington Bancshares in the third quarter valued at about $2,381,000. Sanctuary Advisors LLC raised its holdings in Huntington Bancshares by 286.3% in the third quarter. Sanctuary Advisors LLC now owns 474,752 shares of the bank’s stock worth $6,979,000 after purchasing an additional 351,850 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Huntington Bancshares by 3.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 245,358 shares of the bank’s stock valued at $3,607,000 after buying an additional 9,158 shares in the last quarter. 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.