Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00 at DA Davidson

Huntington Bancshares (NASDAQ:HBAN) had its price target hoisted by DA Davidson from $20.00 to $21.00 in a research note issued to investors on Monday,MarketScreener reports. DA Davidson currently has a buy rating on the bank’s stock.

Several other research firms have also recently commented on HBAN. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday. Morgan Stanley lifted their price target on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Two investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.76.

Huntington Bancshares Stock Up 2.2%

Shares of Huntington Bancshares stock opened at $15.84 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The business’s 50 day simple moving average is $17.08 and its 200-day simple moving average is $16.14. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.73 and a beta of 0.96. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The business had revenue of $469.00 million for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. Equities research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 43.36%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the second quarter worth $25,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares in the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Huntington Bancshares in the second quarter worth $30,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the first quarter worth $29,000. Finally, Quarry LP boosted its position in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after purchasing an additional 814 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.