Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $15.71.

A number of brokerages recently commented on HBAN. Argus boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Citigroup boosted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Friday, July 26th.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’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 sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. WealthShield Partners LLC raised its position in shares of Huntington Bancshares by 5.9% during the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after purchasing an additional 683 shares during the last quarter. UMB Bank n.a. raised its position in shares of Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 shares during the last quarter. Foundations Investment Advisors LLC raised its position in shares of Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after purchasing an additional 744 shares during the last quarter. Summit Financial Strategies Inc. raised its position in shares of Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after purchasing an additional 762 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.84 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $16.03. The firm has a market capitalization of $22.96 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company’s 50-day moving average is $14.49 and its 200 day moving average is $13.91.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period last year, the company posted $0.35 earnings per share. Research analysts forecast that Huntington Bancshares will post 1.18 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

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.