Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Recommendation of “Moderate Buy” from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.9167.

A number of research analysts have recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and set a $20.00 price target (down previously from $21.00) on shares of Huntington Bancshares in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Stephens boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. Zacks Research lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, TD Cowen raised their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th.

Huntington Bancshares Stock Up 0.7%

Shares of Huntington Bancshares stock opened at $17.48 on Monday. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.58 and a beta of 0.95. The stock has a 50-day simple moving average of $16.54 and a 200-day simple moving average of $16.75. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.03. 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 (NASDAQ:HBAN) last issued its quarterly earnings data on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. The firm had revenue of $580.00 million for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. On average, equities research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, December 18th. Huntington Bancshares’s payout ratio is presently 43.36%.

Insider Activity

In other news, Director John C. Inglis bought 6,506 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This represents a 7.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the transaction, the executive vice president directly owned 239,473 shares of the company’s stock, valued at approximately $4,310,514. This represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,863 shares of company stock valued at $1,396,634 in the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC bought a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $25,000. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. grew its position in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Huntington Bancshares by 73.0% during the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.