Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00 at Truist Financial

Huntington Bancshares (NASDAQ:HBAN) had its target price raised by Truist Financial from $20.00 to $21.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the bank’s stock.

Several other brokerages have also weighed in on HBAN. Jefferies Financial Group upped their price objective on shares of Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday. Raymond James Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Friday. DA Davidson reissued a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Huntington Bancshares Stock Down 0.1%

Shares of NASDAQ:HBAN opened at $17.34 on Monday. Huntington Bancshares has a 1 year low of $11.91 and a 1 year high of $18.91. 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 business’s 50-day moving average is $17.32 and its 200-day moving average is $16.87. The company has a market capitalization of $27.31 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.65 and a beta of 0.95.

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). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. Equities research analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio is presently 44.60%.

Insider Activity

In other news, EVP Marcy C. Hingst sold 12,832 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total value of $230,976.00. Following the completion of the sale, the executive vice president owned 239,473 shares in the company, valued at $4,310,514. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Amit Dhingra sold 10,000 shares of the 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 completion of the sale, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 97,863 shares of company stock worth $1,581,634. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently made changes to their positions in HBAN. Norges Bank purchased a new stake in Huntington Bancshares during the second quarter worth about $374,474,000. Junto Capital Management LP bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $85,690,000. Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the period. Fisher Asset Management LLC increased its stake in shares of Huntington Bancshares by 1,700.0% during the 2nd quarter. Fisher Asset Management LLC now owns 3,351,087 shares of the bank’s stock worth $56,164,000 after purchasing an additional 3,164,915 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Huntington Bancshares by 48.0% in the 3rd quarter. Squarepoint Ops LLC now owns 9,676,829 shares of the bank’s stock worth $167,119,000 after purchasing an additional 3,138,669 shares during the period. 80.72% of the stock is currently owned by institutional investors.

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.