Huntington Bancshares (NASDAQ:HBAN) PT Raised to $17.00 at Bank of America

Huntington Bancshares (NASDAQ:HBAN) had its price objective lifted by Bank of America from $15.00 to $17.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities analysts have also weighed in on the stock. 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. Piper Sandler upped their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an underweight rating in a report on Monday. StockNews.com lowered shares of Huntington Bancshares from a hold rating to a sell rating in a report on Wednesday, June 19th. Evercore ISI dropped their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, Citigroup upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a buy rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of Moderate Buy and an average target price of $15.50.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.06 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $21.83 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06. The firm’s fifty day simple moving average is $13.43 and its two-hundred day simple moving average is $13.29. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. As a group, analysts predict that Huntington Bancshares will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.12%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,418 shares of company stock worth $2,214,979. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fullcircle Wealth LLC bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $151,000. Atlantic Union Bankshares Corp bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $411,000. Van Lanschot Kempen Investment Management N.V. grew its position in shares of Huntington Bancshares by 4.1% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 734,880 shares of the bank’s stock valued at $9,686,000 after acquiring an additional 28,640 shares during the period. Everhart Financial Group Inc. boosted its holdings in Huntington Bancshares by 1.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 54,470 shares of the bank’s stock worth $718,000 after buying an additional 984 shares during the period. Finally, JB Capital LLC boosted its holdings in Huntington Bancshares by 2.4% in the 2nd quarter. JB Capital LLC now owns 185,954 shares of the bank’s stock worth $2,451,000 after buying an additional 4,287 shares during the period. 80.72% of the stock is owned by institutional investors.

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.