Jefferies Financial Group Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective lowered by Jefferies Financial Group from $22.00 to $21.00 in a report issued on Thursday morning,MarketScreener reports. The firm currently has a buy rating on the bank’s stock.

HBAN has been the topic of several other research reports. Wolfe Research reaffirmed an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, January 7th. UBS Group set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Raymond James Financial increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Friday, January 23rd. Finally, Morgan Stanley raised their price target on shares of Huntington Bancshares from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.78.

Huntington Bancshares Trading Down 2.2%

NASDAQ HBAN opened at $16.31 on Thursday. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $19.45. The business has a 50 day moving average price of $17.70 and a 200-day moving average price of $17.08. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market cap of $33.11 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.66 and a beta of 0.95.

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

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s payout ratio is currently 44.60%.

Insider Transactions at Huntington Bancshares

In related news, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction dated Thursday, February 19th. The stock was purchased at an average cost of $17.81 per share, with a total value of $252,902.00. Following the transaction, the director directly owned 943,341 shares of the company’s stock, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Rollins III purchased 6,873 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average cost of $23.27 per share, for a total transaction of $159,934.71. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $93,080. This trade represents a -239.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 26,488 shares of company stock valued at $510,286 and sold 50,145 shares valued at $929,885. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC bought a new stake in Huntington Bancshares in the 2nd quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the third quarter worth about $26,000. South Plains Financial Inc. raised its position in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the period. Finally, Centennial Bank AR bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $28,000. 80.72% of the stock is currently owned by institutional investors.

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.