Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $18.24

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.35.

HBAN has been the topic of several analyst reports. Morgan Stanley cut their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler cut their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Barclays increased their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $14.90 on Tuesday. Huntington Bancshares has a 1 year low of $12.05 and a 1 year high of $18.45. The firm’s 50 day moving average is $16.34 and its 200-day moving average is $16.13. The firm has a market capitalization of $21.77 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.33 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business earned $0.27 EPS. Sell-side analysts forecast that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arvest Bank Trust Division acquired a new stake in Huntington Bancshares in the third quarter valued at $2,381,000. Mediolanum International Funds Ltd acquired a new stake in Huntington Bancshares in the fourth quarter valued at $422,000. Donoghue Forlines LLC acquired a new stake in Huntington Bancshares in the fourth quarter valued at $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd acquired a new stake in Huntington Bancshares in the third quarter valued at $3,454,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

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.