Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $17.56 Average PT from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $17.56.

A number of brokerages recently commented on HBAN. Evercore ISI raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Monday, December 23rd. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $16.27 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $16.94 and a 200-day moving average price of $15.15. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Dedication LLC increased its position in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares during the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. lifted its holdings in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the third quarter worth approximately $31,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth $32,000. 80.72% of the stock is currently owned by hedge funds and other 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.