Huntington Bancshares (NASDAQ:HBAN) Upgraded by Robert W. Baird to “Outperform” Rating

Robert W. Baird upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to an outperform rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has $18.00 target price on the bank’s stock.

Several other research analysts have also issued reports on the stock. Citigroup raised their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Barclays raised their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler reduced their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.24.

Huntington Bancshares Stock Up 0.1 %

HBAN stock opened at $15.14 on Friday. The stock has a market capitalization of $22.01 billion, a P/E ratio of 12.31, a price-to-earnings-growth 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 has a 12 month low of $12.05 and a 12 month high of $18.44. The firm has a 50-day moving average price of $16.58 and a 200-day moving average price of $16.09.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $0.27 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s payout ratio is 50.41%.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carlson Capital Management lifted its position in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank’s stock valued at $2,661,000 after buying an additional 692 shares during the period. Farther Finance Advisors LLC lifted its position in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank’s stock valued at $200,000 after buying an additional 699 shares during the period. Venturi Wealth Management LLC lifted its position in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock valued at $53,000 after buying an additional 702 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Huntington Bancshares by 4.0% during the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank’s stock valued at $326,000 after acquiring an additional 762 shares in the last quarter. Finally, Lantz Financial LLC increased its holdings in shares of Huntington Bancshares by 6.1% during the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after acquiring an additional 790 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.