Huntington Bancshares’ (HBAN) Equal Weight Rating Reaffirmed at Stephens

Stephens restated their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Friday,Benzinga reports. They currently have a $18.50 price objective on the bank’s stock.

Several other analysts also recently issued reports on HBAN. Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group increased their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Evercore ISI upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.92 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a fifty day moving average of $16.84 and a 200-day moving average of $15.81. The firm has a market capitalization of $24.58 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.41 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.4 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. Raymond James Financial Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth about $150,444,000. State Street Corp increased its holdings in Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the period. Amundi lifted its stake in Huntington Bancshares by 26.7% in the 4th quarter. Amundi now owns 17,435,207 shares of the bank’s stock worth $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. FMR LLC boosted its holdings in Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. Hedge funds and other institutional investors 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.