Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $19.00 by Analysts at Wolfe Research

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by Wolfe Research from $21.00 to $19.00 in a research report released on Wednesday morning,MarketScreener reports. The brokerage currently has an outperform rating on the bank’s stock.

A number of other research analysts also recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. DA Davidson reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 16th. Barclays upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Argus increased their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $15.88 on Wednesday. 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 firm’s 50-day moving average price is $16.82 and its two-hundred day moving average price is $16.81. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $19.45. The stock has a market capitalization of $32.35 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.63 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period last year, the company posted $0.34 earnings per share. As a group, sell-side analysts forecast 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 was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Insider Activity at Huntington Bancshares

In related news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider directly owned 155,634 shares in the company, valued at $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the sale, the vice president directly owned 42,398 shares of the company’s stock, valued at $802,594.14. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Norges Bank bought a new position in Huntington Bancshares during the 4th quarter valued at $432,584,000. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after purchasing an additional 14,338,222 shares in the last quarter. Junto Capital Management LP acquired a new position in shares of Huntington Bancshares during the 3rd quarter valued at $85,690,000. Finally, Victory Capital Management Inc. raised its stake in shares of Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after buying an additional 4,640,302 shares in the last quarter. 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.