Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Recommendation of “Moderate Buy” by Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBANGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $14.93.

HBAN has been the topic of a number of analyst reports. Stephens reissued an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. Keefe, Bruyette & Woods dropped their price target on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. UBS Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Finally, Jefferies Financial Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd.

View Our Latest Analysis on HBAN

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank bought a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $5,261,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Huntington Bancshares by 8.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after acquiring an additional 10,795 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. Vest Financial LLC boosted its position in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after acquiring an additional 141,410 shares during the period. Finally, KBC Group NV boosted its position in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after acquiring an additional 3,729,974 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $13.07 on Thursday. The business’s 50-day moving average price is $13.33 and its 200 day moving average price is $13.17. The firm has a market cap of $18.94 billion, a P/E ratio of 11.77, a PEG ratio of 2.48 and a beta of 1.06. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $14.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last released its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares will post 1.17 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.74%. Huntington Bancshares’s payout ratio is 55.86%.

About Huntington Bancshares

(Get Free Report

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.

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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