Evercore ISI Trims Huntington Bancshares (NASDAQ:HBAN) Target Price to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its target price decreased by Evercore ISI from $16.50 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

HBAN has been the subject of several other research reports. UBS Group decreased their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research report on Thursday, June 13th. Royal Bank of Canada reiterated an outperform rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. StockNews.com lowered Huntington Bancshares from a hold rating to a sell rating in a report on Wednesday, June 19th. Stephens reiterated an equal weight rating and set a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Finally, Morgan Stanley cut their price objective on Huntington Bancshares from $16.00 to $15.00 and set an overweight rating for the company in a report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of Moderate Buy and an average target price of $15.03.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $12.78 on Tuesday. The stock has a fifty day moving average price of $13.42 and a two-hundred day moving average price of $13.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $18.52 billion, a P/E ratio of 11.51, a PEG ratio of 2.41 and a beta of 1.08. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period last year, the company posted $0.38 EPS. Research analysts forecast that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.85%. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,829 shares of company stock worth $2,148,623. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares during the first quarter valued at approximately $29,000. YHB Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the first quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the fourth quarter valued at approximately $29,000. Nemes Rush Group LLC boosted its holdings in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the fourth quarter valued at approximately $33,000. 80.72% of the stock is 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.