TD Cowen Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by TD Cowen from $21.00 to $22.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the bank’s stock.

Several other research analysts also recently commented on the company. DA Davidson boosted their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Raymond James Financial restated a “strong-buy” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.76.

Huntington Bancshares Stock Up 2.2%

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

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS 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%. As a group, sell-side analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the business. Family Legacy Financial Solutions LLC bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $25,000. MTM Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $29,000. Quarry LP grew its holdings in shares of Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after buying an additional 814 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at $30,000. Institutional investors 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.