Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $22.00 at Jefferies Financial Group

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by Jefferies Financial Group from $21.00 to $22.00 in a report issued on Wednesday morning,MarketScreener reports. They currently have a buy rating on the bank’s stock.

Several other analysts have also recently issued reports on HBAN. Citigroup upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Raymond James Financial restated a “strong-buy” rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Truist Financial upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.89.

Huntington Bancshares Stock Up 0.1%

Shares of HBAN stock opened at $17.37 on Wednesday. The company’s fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $15.89. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $25.34 billion, a P/E ratio of 12.87, a PEG ratio of 0.84 and a beta of 0.97. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 45.93%.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Huntington Bancshares during the second quarter valued at $374,474,000. AQR Capital Management LLC increased its position in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock valued at $157,292,000 after purchasing an additional 7,889,004 shares during the period. Invesco Ltd. increased its position in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after purchasing an additional 4,586,607 shares during the period. Amundi lifted its position in shares of Huntington Bancshares by 26.2% in the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock worth $330,395,000 after purchasing an additional 4,576,432 shares during the period. Finally, Nuveen LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $50,078,000. 80.72% of the stock is currently 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.