Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a report issued on Tuesday morning. The firm issued an outperform rating and a $21.00 price objective on the bank’s stock.

Several other research analysts have also recently weighed in on HBAN. Argus lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Wolfe Research restated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, January 7th. TD Cowen lifted their price target on shares of Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. DA Davidson restated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Finally, Stephens upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.42.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $18.39 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.91. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.72 and a beta of 0.96. The company has a 50-day moving average price of $17.55 and a 200-day moving average price of $16.90.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. Huntington Bancshares’s payout ratio is presently 44.60%.

Insider Buying and Selling

In related news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kendall A. Kowalski sold 2,481 shares of Huntington Bancshares stock in a transaction on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares in the company, valued at approximately $1,273,874.80. This represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 97,863 shares of company stock valued at $1,581,634. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in HBAN. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth $26,000. South Plains Financial Inc. increased its holdings in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares during the last quarter. Accredited Wealth Management LLC lifted its position in shares of Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in Huntington Bancshares in the 3rd quarter valued at $31,000. 80.72% of the stock is owned by institutional investors and hedge funds.

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.