Huntington Bancshares’ (HBAN) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 target price on the bank’s stock.

A number of other research analysts also recently weighed in on HBAN. Evercore ISI upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup upped their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler increased their target price on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Stock Performance

HBAN opened at $16.46 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The firm has a 50 day moving average of $16.85 and a two-hundred day moving average of $15.02. The firm has a market capitalization of $23.91 billion, a PE ratio of 15.83, a P/E/G ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently modified their holdings of the stock. WealthShield Partners LLC grew its stake in shares of Huntington Bancshares by 5.9% during the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after purchasing an additional 683 shares in the last quarter. UMB Bank n.a. raised its position in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after buying an additional 728 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Huntington Bancshares by 3.2% during the second quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after purchasing an additional 744 shares in the last quarter. Dillon & Associates Inc. lifted its holdings in shares of Huntington Bancshares by 5.9% in the 3rd quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock valued at $215,000 after buying an additional 795 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock worth $917,000 after purchasing an additional 800 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.