Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned a consensus recommendation of “Buy” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.88.
Several equities analysts have recently commented on HBAN shares. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. BMO Capital Markets restated an “outperform” rating and issued a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Piper Jaffray Companies restated a “neutral” rating and issued a $14.00 target price (down from $14.50) on shares of Huntington Bancshares in a research report on Saturday, April 22nd. Finally, Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Tuesday, April 11th.
In other Huntington Bancshares news, Director Richard W. Neu purchased 2,450 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was purchased at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the transaction, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew J. Harmening purchased 15,490 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $12.92 per share, with a total value of $200,130.80. Following the completion of the transaction, the executive vice president now owns 35,543 shares in the company, valued at approximately $459,215.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 67,940 shares of company stock valued at $852,226. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HBAN. City Holding Co. boosted its position in shares of 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. DnB Asset Management AS boosted its position in shares of Huntington Bancshares by 25.1% in the first quarter. DnB Asset Management AS now owns 91,330 shares of the bank’s stock valued at $1,223,000 after buying an additional 18,300 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Huntington Bancshares by 39.5% in the first quarter. Gateway Investment Advisers LLC now owns 1,618,984 shares of the bank’s stock valued at $21,678,000 after buying an additional 458,317 shares during the period. Affinity Wealth Management acquired a new position in shares of Huntington Bancshares during the first quarter valued at about $141,000. Finally, Parametrica Management Ltd acquired a new position in shares of Huntington Bancshares during the first quarter valued at about $291,000. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Huntington Bancshares (NASDAQ:HBAN) traded up 1.58% during mid-day trading on Friday, hitting $13.49. 2,572,646 shares of the stock traded hands. Huntington Bancshares has a 52 week low of $9.38 and a 52 week high of $14.74. The firm’s 50-day moving average price is $13.38 and its 200-day moving average price is $13.33. The firm has a market cap of $14.70 billion, a P/E ratio of 18.68 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the previous year, the company earned $0.19 EPS. On average, equities analysts forecast that Huntington Bancshares will post $0.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is 46.38%.
Huntington Bancshares declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $308.00 million in shares. This buyback authorization authorizes the bank to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Huntington Bancshares Company Profile
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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