Huntington Bancshares (NASDAQ:HBAN) Given New $17.00 Price Target at Piper Sandler

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

Several other brokerages have also weighed in on HBAN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday. Citigroup lifted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Huntington Bancshares Stock Up 0.2 %

Shares of NASDAQ:HBAN opened at $16.90 on Tuesday. Huntington Bancshares has a 1-year low of $12.05 and a 1-year high of $18.44. The company’s fifty day moving average is $17.01 and its two-hundred day moving average is $15.56. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company earned $0.27 EPS. Equities analysts anticipate that Huntington Bancshares will post 1.37 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.67%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mediolanum International Funds Ltd purchased a new position in Huntington Bancshares during the 4th quarter valued at about $422,000. Crews Bank & Trust purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $58,000. Strategic Blueprint LLC increased its stake in Huntington Bancshares by 2.8% in the 4th quarter. Strategic Blueprint LLC now owns 29,140 shares of the bank’s stock valued at $474,000 after buying an additional 804 shares during the period. Foster Victor Wealth Advisors LLC lifted its position in Huntington Bancshares by 0.6% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 428,014 shares of the bank’s stock worth $7,281,000 after buying an additional 2,758 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at $862,000. 80.72% of the stock is owned by institutional investors and hedge funds.

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.