Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $20.00 by Analysts at Royal Bank Of Canada

Huntington Bancshares (NASDAQ:HBAN) had its price target trimmed by Royal Bank Of Canada from $21.00 to $20.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an outperform rating on the bank’s stock.

HBAN has been the subject of a number of other reports. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Raymond James Financial increased their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Finally, DA Davidson decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $20.13.

Huntington Bancshares Stock Down 0.4%

NASDAQ:HBAN opened at $15.88 on Tuesday. Huntington Bancshares has a 1-year low of $12.08 and a 1-year high of $19.45. The company has a 50-day moving average of $16.69 and a 200 day moving average of $16.76. The firm has a market cap of $32.35 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share 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 $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company earned $0.34 earnings per share. As a group, research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III purchased 1,127 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average cost of $25.39 per share, with a total value of $28,614.53. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at $101,560. This represents a 39.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the sale, the vice president directly owned 42,398 shares of the company’s stock, valued at approximately $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 27,700 shares of company stock valued at $540,401 and sold 108,986 shares valued at $1,785,958. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. Altrius Capital Management Inc acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $4,894,000. Vanguard Group Inc. increased its holdings in shares of Huntington Bancshares by 0.4% during the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after acquiring an additional 680,601 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $3,746,000. Midwest Trust Co increased its holdings in shares of Huntington Bancshares by 12.7% during the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock valued at $26,095,000 after acquiring an additional 170,240 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Huntington Bancshares by 3.5% during the third quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock valued at $159,543,000 after acquiring an additional 314,544 shares in the last quarter. Institutional investors and hedge funds 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.