Vining Sparks Reiterates Buy Rating for Huntington Bancshares (HBAN)

Vining Sparks reissued their buy rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Monday morning. Vining Sparks currently has a $19.00 price target on the bank’s stock.

HBAN has been the subject of a number of other research reports. FBR & Co restated a hold rating and issued a $14.00 price target on shares of Huntington Bancshares in a research note on Thursday, October 26th. BidaskClub upgraded shares of Huntington Bancshares from a hold rating to a buy rating in a research note on Friday, December 22nd. Nomura lifted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, October 26th. BMO Capital Markets lowered shares of Huntington Bancshares from an outperform rating to a market perform rating and set a $16.00 price target for the company. in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $14.25 price target on shares of Huntington Bancshares in a research note on Friday, October 13th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Huntington Bancshares has a consensus rating of Buy and a consensus price target of $16.31.

Huntington Bancshares (HBAN) traded up $0.22 on Monday, hitting $15.85. 7,951,779 shares of the stock were exchanged, compared to its average volume of 10,649,955. The stock has a market capitalization of $17,130.00, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.52 and a beta of 1.33. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $15.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a net margin of 25.22% and a return on equity of 10.68%. During the same quarter in the prior year, the business earned $0.11 EPS. analysts forecast that Huntington Bancshares will post 0.98 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th were issued a dividend of $0.11 per share. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, December 15th. This represents a $0.44 annualized dividend and a dividend yield of 2.78%. Huntington Bancshares’s payout ratio is 38.55%.

In other news, EVP Daniel J. Neumeyer sold 43,491 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the transaction, the executive vice president now owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 14,513 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the transaction, the insider now directly owns 499,824 shares of the company’s stock, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. Capital International Investors boosted its holdings in shares of Huntington Bancshares by 22.6% during the second quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock valued at $593,788,000 after acquiring an additional 8,101,400 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 2.4% during the second quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after acquiring an additional 2,558,854 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Huntington Bancshares by 20.1% during the second quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock valued at $167,172,000 after acquiring an additional 2,065,131 shares during the period. Beacon Investment Advisory Services Inc. acquired a new position in shares of Huntington Bancshares during the third quarter valued at $23,872,000. Finally, Nationwide Fund Advisors boosted its holdings in shares of Huntington Bancshares by 430.6% during the second quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock valued at $21,914,000 after acquiring an additional 1,315,390 shares during the period. 73.53% of the stock is owned by institutional investors.

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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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