Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $17.00 by Analysts at Keefe, Bruyette & Woods

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Other analysts have also recently issued reports about the company. Stephens reissued an “equal weight” rating and set a $16.50 price objective on shares of Huntington Bancshares in a report on Monday. Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Raymond James reaffirmed a “strong-buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday. Finally, Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.61.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $13.47 on Monday. Huntington Bancshares has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $14.80 and its 200-day moving average is $16.02. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the business earned $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares of the company’s stock, valued at $731,237.50. This represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock valued at $1,631,151 over the last three months. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the business. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $2,381,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $1,389,000. Franklin Resources Inc. increased its holdings in shares of Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after acquiring an additional 55,602 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Huntington Bancshares by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock worth $25,627,000 after buying an additional 112,146 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Huntington Bancshares by 10.2% during the fourth quarter. GAMMA Investing LLC now owns 39,656 shares of the bank’s stock worth $645,000 after purchasing an additional 3,668 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.