Huntington Bancshares (NASDAQ:HBAN) Given New $20.00 Price Target at Stephens

Huntington Bancshares (NASDAQ:HBAN) had its target price hoisted by Stephens from $19.00 to $20.00 in a research report report published on Thursday morning,MarketScreener reports. They currently have an equal weight rating on the bank’s stock.

A number of other brokerages have also commented on HBAN. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday. Zacks Research cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.92.

Huntington Bancshares Trading Up 0.2%

Shares of NASDAQ:HBAN opened at $17.63 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The stock’s 50-day moving average is $16.16 and its 200-day moving average is $16.60. The company has a market cap of $25.73 billion, a P/E ratio of 12.34, a P/E/G ratio of 0.67 and a beta of 0.96. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. The firm had revenue of $580.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. Equities research analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be given a $0.155 dividend. The ex-dividend date is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 43.36%.

Insiders Place Their Bets

In related news, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares in the company, valued at approximately $1,273,874.80. This represents a 3.35% 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, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the transaction, the insider directly owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This trade represents a 10.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,863 shares of company stock valued at $1,396,634 in the last quarter. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cresset Asset Management LLC increased its position in shares of Huntington Bancshares by 5.6% during the 1st quarter. Cresset Asset Management LLC now owns 43,159 shares of the bank’s stock worth $654,000 after purchasing an additional 2,286 shares during the last quarter. Korea Investment CORP increased its holdings in Huntington Bancshares by 0.4% during the first quarter. Korea Investment CORP now owns 686,498 shares of the bank’s stock worth $10,304,000 after buying an additional 2,974 shares during the last quarter. Wellington Management Group LLP raised its position in Huntington Bancshares by 10.9% during the first quarter. Wellington Management Group LLP now owns 909,641 shares of the bank’s stock worth $13,654,000 after acquiring an additional 89,322 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Huntington Bancshares by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 34,636 shares of the bank’s stock valued at $520,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Summit Financial LLC grew its position in shares of Huntington Bancshares by 51.5% in the 1st quarter. Summit Financial LLC now owns 23,540 shares of the bank’s stock valued at $353,000 after acquiring an additional 8,002 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.