Huntington Bancshares (NASDAQ:HBAN) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Huntington Bancshares (NASDAQ:HBANFree Report) in a report released on Tuesday morning, Benzinga reports. They currently have a $15.00 target price on the bank’s stock.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley restated an overweight rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Jefferies Financial Group raised shares of Huntington Bancshares from a hold rating to a buy rating and raised their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Bank of America raised shares of Huntington Bancshares from a neutral rating to a buy rating and boosted their price objective for the company from $14.00 to $16.00 in a report on Monday, April 8th. Stephens reaffirmed an equal weight rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised Huntington Bancshares from a neutral rating to an overweight rating and increased their price objective for the company from $16.00 to $18.00 in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $15.23.

Get Our Latest Report on Huntington Bancshares

Huntington Bancshares Price Performance

Shares of HBAN opened at $12.34 on Tuesday. The company has a 50 day moving average of $13.62 and a two-hundred day moving average of $13.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $14.30. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the firm earned $0.38 EPS. As a group, analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock worth $2,148,623 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares during the last quarter. Boston Partners lifted its stake in shares of Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after buying an additional 9,533,511 shares in the last quarter. Norges Bank acquired a new position in Huntington Bancshares during the fourth quarter worth about $206,703,000. Dimensional Fund Advisors LP grew its stake in Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Huntington Bancshares by 5.5% in the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock valued at $148,449,000 after acquiring an additional 744,443 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

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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.

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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