Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned an average rating of “Buy” from the twenty research firms that are covering the company. Ten analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.80.
Several research firms recently weighed in on HBAN. Sanford C. Bernstein raised their price objective on Huntington Bancshares from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. Hilliard Lyons downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Zacks Investment Research downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday, February 14th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, December 23rd. Finally, Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a report on Monday, April 3rd.
In other news, Director John C. Inglis bought 7,142 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was acquired at an average cost of $14.06 per share, with a total value of $100,416.52. Following the transaction, the director now directly owns 7,142 shares of the company’s stock, valued at approximately $100,416.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.65% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Huntington Bancshares by 23.1% in the third quarter. BNP Paribas Arbitrage SA now owns 268,729 shares of the bank’s stock worth $2,650,000 after buying an additional 50,497 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Huntington Bancshares during the third quarter worth approximately $385,000. Exxonmobil Investment Management Inc. TX raised its stake in shares of Huntington Bancshares by 34.0% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 277,172 shares of the bank’s stock worth $2,733,000 after buying an additional 70,385 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Huntington Bancshares by 67.2% in the third quarter. Raymond James Trust N.A. now owns 25,648 shares of the bank’s stock worth $253,000 after buying an additional 10,309 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Huntington Bancshares during the third quarter worth approximately $238,000. 70.49% of the stock is owned by hedge funds and other institutional investors.
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Huntington Bancshares (NASDAQ:HBAN) traded down 0.94% during mid-day trading on Friday, hitting $12.60. 5,936,110 shares of the stock were exchanged. Huntington Bancshares has a one year low of $8.05 and a one year high of $14.74. The company has a market cap of $13.68 billion, a P/E ratio of 18.00 and a beta of 1.24. The company has a 50-day moving average price of $13.42 and a 200-day moving average price of $12.68.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Huntington Bancshares had a net margin of 18.11% and a return on equity of 11.09%. The business earned $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, analysts predict that Huntington Bancshares will post $0.96 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 15th. Huntington Bancshares’s payout ratio is 47.06%.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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