Huntington Bancshares (NASDAQ:HBAN) Given New $19.00 Price Target at Evercore

Huntington Bancshares (NASDAQ:HBAN) had its price objective lowered by Evercore from $21.00 to $19.00 in a report published on Monday,MarketScreener reports. The brokerage currently has an outperform rating on the bank’s stock.

Other analysts have also issued reports about the stock. Morgan Stanley reduced their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Piper Sandler increased their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price target on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Argus boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods lowered their price target on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.94 on Monday. The company has a 50 day simple moving average of $16.72 and a 200-day simple moving average of $16.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 0.64 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 results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period last year, the company earned $0.34 earnings per share. Equities research analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is currently 44.60%.

Insider Buying and Selling

In related news, Director James D. Rollins III bought 1,127 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $25.39 per share, with a total value of $28,614.53. Following the completion of the transaction, the director directly owned 4,000 shares of the company’s stock, valued at $101,560. This trade represents a 39.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was 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. The trade was a 11.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 27,700 shares of company stock valued at $540,401 and have sold 108,986 shares valued at $1,785,958. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. raised its stake in 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 in the last quarter. Centennial Bank AR acquired a new position in Huntington Bancshares during the fourth quarter worth $28,000. Finally, Accredited Wealth Management LLC raised 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 worth $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.