Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $21.00 by Analysts at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price objective lowered by Morgan Stanley from $23.00 to $21.00 in a research note released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the bank’s stock.

HBAN has been the subject of several other reports. Truist Financial reduced their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Keefe, Bruyette & Woods dropped 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 research report on Friday, January 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, January 12th. Finally, DA Davidson decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.53.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $15.65 on Tuesday. 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 50-day simple moving average of $16.88 and a two-hundred day simple moving average of $16.82. The firm has a market capitalization of $31.88 billion, a PE ratio of 11.26, 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 posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate 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 $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the business earned $0.34 EPS. Analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 44.60%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This represents a 1.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider owned 83,819 shares in the company, valued at $1,299,194.50. This represents a 10.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares during the third quarter valued at $26,000. South Plains Financial Inc. raised its stake 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 acquiring an additional 826 shares during the period. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at $28,000. Finally, Accredited Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after acquiring an additional 1,322 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.