Piper Sandler Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective reduced by Piper Sandler from $17.50 to $17.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. DA Davidson raised their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Barclays raised their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Evercore ISI upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.90 on Tuesday. Huntington Bancshares has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a market capitalization of $24.55 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.43 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. The firm has a 50-day moving average price of $17.01 and a two-hundred day moving average price of $15.56.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results 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 return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company posted $0.27 EPS. As a group, research analysts expect that Huntington Bancshares will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.67%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HBAN. Mediolanum International Funds Ltd purchased a new stake in Huntington Bancshares during the 4th quarter worth approximately $422,000. Crews Bank & Trust bought a new stake in shares of Huntington Bancshares in the fourth quarter worth $58,000. Strategic Blueprint LLC raised its holdings in Huntington Bancshares by 2.8% in the fourth quarter. Strategic Blueprint LLC now owns 29,140 shares of the bank’s stock valued at $474,000 after acquiring an additional 804 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in Huntington Bancshares by 0.6% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 428,014 shares of the bank’s stock valued at $7,281,000 after acquiring an additional 2,758 shares during the last quarter. Finally, Smith Group Asset Management LLC acquired a new position in Huntington Bancshares during the 4th quarter worth $862,000. Institutional investors and hedge funds 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.