Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $23.00 at TD Cowen

Huntington Bancshares (NASDAQ:HBAN) had its price objective lifted by TD Cowen from $22.00 to $23.00 in a research report released on Tuesday,MarketScreener reports. The firm currently has a buy rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price objective on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Citigroup boosted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $19.82.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.54 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $18.44. The company has a market cap of $22.67 billion, a P/E ratio of 10.87, a P/E/G ratio of 0.68 and a beta of 0.96. The business has a fifty day simple moving average of $16.98 and a 200 day simple moving average of $16.26.

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

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares’s payout ratio is 43.36%.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares of the company’s stock, valued at $5,388,498. The trade was a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its stake in shares of Huntington Bancshares by 1,462.4% in the 1st quarter. Teacher Retirement System of Texas now owns 212,390 shares of the bank’s stock valued at $3,188,000 after purchasing an additional 198,796 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Huntington Bancshares by 26.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 167,515 shares of the bank’s stock worth $2,808,000 after buying an additional 35,014 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Huntington Bancshares by 43.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 94,979 shares of the bank’s stock worth $1,592,000 after buying an additional 28,739 shares during the period. Shell Asset Management Co. raised its stake in Huntington Bancshares by 58.7% during the 2nd quarter. Shell Asset Management Co. now owns 200,595 shares of the bank’s stock worth $3,362,000 after buying an additional 74,220 shares during the period. Finally, Czech National Bank raised its stake in Huntington Bancshares by 6.6% during the 2nd quarter. Czech National Bank now owns 356,096 shares of the bank’s stock worth $5,968,000 after buying an additional 22,190 shares during the period. 80.72% of the stock is 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.