Huntington Bancshares (NASDAQ:HBAN) Given New $20.00 Price Target at DA Davidson

Huntington Bancshares (NASDAQ:HBAN) had its target price decreased by DA Davidson from $21.00 to $20.00 in a research note issued to investors on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also issued reports on the company. Piper Sandler raised their price target on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Wolfe Research reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, January 7th. Stephens increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. Morgan Stanley lifted their target price on Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, Raymond James Financial boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $20.63.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.28 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $19.45. The firm has a market capitalization of $31.13 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company’s 50-day moving average is $17.47 and its 200 day moving average is $17.01.

Huntington Bancshares (NASDAQ:HBAN) last announced its 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). The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter last year, the firm earned $0.34 EPS. Research analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III purchased 1,127 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average price of $25.39 per share, for a total transaction of $28,614.53. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at approximately $101,560. This represents a 39.23% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, the insider owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MTM Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $25,000. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. increased its holdings in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the period. Finally, Centennial Bank AR purchased a new position in Huntington Bancshares during 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.