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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.6250.

A number of analysts recently commented on HBAN shares. Raymond James Financial upped their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Evercore began coverage on Huntington Bancshares in a research report on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. Truist Financial dropped their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Argus boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th.

Huntington Bancshares Price Performance

HBAN opened at $15.09 on Friday. The company’s 50-day simple moving average is $17.23 and its two-hundred day simple moving average is $16.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $30.74 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.61 and a beta of 0.95. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results 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). The company 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 in the prior year, the firm posted $0.34 earnings per share. As a group, analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

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

Insider Activity

In related news, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at approximately $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares of the company’s stock, valued at $7,360,009.28. This represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. purchased a new stake in Huntington Bancshares during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the third quarter worth $26,000. South Plains Financial Inc. boosted its position in shares of 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 acquiring an additional 826 shares during the last quarter. Centennial Bank AR purchased a new position in Huntington Bancshares during the fourth quarter valued at $28,000. Finally, Accredited Wealth Management LLC grew its stake in Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares in the last quarter. Institutional investors 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.