Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) PT at $14.97

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $15.17.

Several brokerages recently issued reports on HBAN. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the company from $14.00 to $16.00 in a report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Evercore ISI raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Citigroup raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd.

Insider Activity

In related news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,241 shares of company stock valued at $1,360,359. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its position in Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after purchasing an additional 780 shares in the last quarter. Park Avenue Securities LLC grew its position in Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares in the last quarter. Mather Group LLC. grew its position in Huntington Bancshares by 5.8% during the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after purchasing an additional 837 shares in the last quarter. Financial Advocates Investment Management grew its position in Huntington Bancshares by 5.9% during the 4th quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock worth $195,000 after purchasing an additional 856 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Huntington Bancshares by 12.0% during the 4th quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock worth $108,000 after purchasing an additional 904 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Trading Up 1.9 %

Shares of HBAN opened at $13.53 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $19.62 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The stock’s fifty day simple moving average is $13.29 and its 200 day simple moving average is $12.19. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $0.38 EPS. On average, equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.