Huntington Bancshares (NASDAQ:HBAN) Given New $17.00 Price Target at Evercore ISI

Huntington Bancshares (NASDAQ:HBAN) had its price target decreased by Evercore ISI from $17.50 to $17.00 in a research note published on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

Several other analysts also recently weighed in on HBAN. Keefe, Bruyette & Woods lowered their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a market perform rating on the stock in a report on Tuesday, July 9th. Piper Sandler boosted their target price on Huntington Bancshares from $11.50 to $13.50 and gave the stock an underweight rating in a research report on Monday, July 22nd. Argus raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a buy rating in a report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $17.00 to $16.50 and set an overweight rating on the stock in a report on Thursday, June 27th. Finally, Morgan Stanley raised their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an overweight rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of Moderate Buy and an average price target of $15.71.

Huntington Bancshares Stock Up 3.2 %

HBAN opened at $14.62 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a one year low of $9.25 and a one year high of $15.24. The business’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $13.81. The stock has a market capitalization of $21.19 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 3.07 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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 earned $0.35 earnings per share. Analysts anticipate that Huntington Bancshares will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insiders Place Their Bets

In related news, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,622 shares of company stock valued at $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Boston Partners raised its stake in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the period. Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after buying an additional 65,355 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after acquiring an additional 561,565 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Huntington Bancshares by 9.5% during the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after acquiring an additional 566,015 shares during the last quarter. 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.