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

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.2632.

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Raymond James Financial upped their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 23rd. Barclays lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods cut their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Finally, Argus raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday.

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 2,481 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at $1,273,874.80. This represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Inglis acquired 6,506 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average price of $15.30 per share, with a total value of $99,541.80. Following the purchase, the director directly owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 97,863 shares of company stock valued at $1,581,634 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HBAN. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. boosted its position in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC grew its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Huntington Bancshares in the third quarter valued at $31,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.29 on Friday. The firm has a market cap of $27.23 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.69 and a beta of 0.95. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.91. The business’s 50-day moving average price is $17.43 and its 200 day moving average price is $16.88. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the business posted $0.34 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. Huntington Bancshares’s payout ratio is 44.60%.

Huntington Bancshares Company Profile

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.