Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $18.48 Average Target Price from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.48.

A number of analysts have weighed in on the company. TD Cowen assumed coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a “buy” rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Truist Financial increased their price target on Huntington Bancshares from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Finally, Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research report on Wednesday, May 21st. They set a “buy” rating and a $20.00 price objective on the stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the transaction, the executive vice president owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brantley J. Standridge sold 70,417 shares of the business’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the transaction, the vice president owned 326,456 shares in the company, valued at $4,469,182.64. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 214,375 shares of company stock worth $3,049,277 in the last three months. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in Huntington Bancshares in the fourth quarter worth about $2,358,000. EverSource Wealth Advisors LLC increased its stake in shares of Huntington Bancshares by 97.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,456 shares of the bank’s stock worth $154,000 after purchasing an additional 4,666 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock valued at $200,000 after acquiring an additional 699 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Huntington Bancshares by 1.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 306,330 shares of the bank’s stock valued at $5,002,000 after acquiring an additional 3,198 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new position in Huntington Bancshares during the fourth quarter valued at $290,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.64 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98. Huntington Bancshares has a twelve month low of $11.92 and a twelve month high of $18.45. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.24 and a beta of 0.93. The company’s fifty day moving average is $16.21 and its 200 day moving average is $15.72.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Sell-side analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares announced that its board has initiated a share repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.73%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

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.