Huntington Bancshares Incorporated (NASDAQ:HBAN)‘s stock had its “neutral” rating restated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Saturday, April 22nd. They presently have a $14.00 price target on the bank’s stock, down from their prior price target of $14.50. Piper Jaffray Companies’ price target suggests a potential upside of 11.38% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein increased their target price on Huntington Bancshares from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, January 26th. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Tuesday, April 11th. Jefferies Group LLC raised Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a report on Monday, April 3rd. FBR & Co reaffirmed a “mkt perform” rating and set a $14.00 price target (down from $15.00) on shares of Huntington Bancshares in a report on Thursday, April 20th. Finally, DA Davidson began coverage on Huntington Bancshares in a research report on Thursday, March 23rd. They issued a “buy” rating and a $16.50 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $13.96.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded up 0.56% during mid-day trading on Friday, reaching $12.57. 7,563,931 shares of the company’s stock were exchanged. Huntington Bancshares has a 52 week low of $8.05 and a 52 week high of $14.74. The stock has a 50 day moving average price of $12.93 and a 200 day moving average price of $13.10. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 18.65 and a beta of 1.24.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. Huntington Bancshares had a net margin of 18.11% and a return on equity of 11.09%. The company’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. Equities research analysts predict that Huntington Bancshares will post $0.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is presently 47.06%.
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In related news, Director John C. Inglis purchased 7,142 shares of the stock in a transaction dated Tuesday, February 28th. The stock was bought at an average cost of $14.06 per share, for a total transaction of $100,416.52. Following the completion of the acquisition, the director now owns 7,142 shares of the company’s stock, valued at $100,416.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andrew J. Harmening purchased 15,490 shares of the business’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $200,130.80. Following the transaction, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at approximately $459,215.56. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 72,632 shares of company stock valued at $920,547 and sold 38,115 shares valued at $494,033. Insiders own 1.65% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advantage Investment Management LLC purchased a new stake in Huntington Bancshares during the fourth quarter valued at approximately $101,000. Savant Capital LLC acquired a new position in Huntington Bancshares during the third quarter valued at approximately $102,000. Lakeview Capital Partners LLC acquired a new position in Huntington Bancshares during the third quarter valued at approximately $107,000. City Holding Co. increased its position in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock valued at $108,000 after buying an additional 1,200 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Huntington Bancshares by 14.6% in the third quarter. Checchi Capital Advisers LLC now owns 11,178 shares of the bank’s stock valued at $110,000 after buying an additional 1,424 shares during the period. Institutional investors own 70.49% of the company’s stock.
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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