Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a report released on Tuesday,Benzinga reports. The brokerage issued a buy rating and a $19.00 price objective on the bank’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Huntington Bancshares in a research report on Monday, December 23rd. Piper Sandler raised their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.76.

Huntington Bancshares Stock Performance

HBAN opened at $16.43 on Tuesday. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The firm has a market capitalization of $23.87 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The stock’s 50 day moving average price is $17.04 and its two-hundred day moving average price is $15.30. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction 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 directly 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. Over the last three months, insiders sold 43,699 shares of company stock valued at $757,356. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently modified their holdings of the business. Asset Dedication LLC raised its position in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new position in Huntington Bancshares during the third quarter worth $29,000. Hazlett Burt & Watson Inc. lifted its position in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC bought a new position in Huntington Bancshares during the third quarter worth about $32,000. Institutional investors 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.