Citigroup Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $18.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective trimmed by Citigroup from $20.00 to $18.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other brokerages also recently issued reports on HBAN. Keefe, Bruyette & Woods raised their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Morgan Stanley decreased their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Finally, Piper Sandler cut their price target on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Down 0.4 %

Huntington Bancshares stock opened at $15.26 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a fifty-two week low of $12.05 and a fifty-two week high of $18.45. The firm has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $16.14. The firm has a market cap of $22.29 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $0.27 earnings per share. As a group, analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm 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 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 yield of 4.06%. Huntington Bancshares’s dividend payout ratio is 50.41%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,060 shares of company stock worth $1,620,142. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC raised its position in shares of Huntington Bancshares by 17,533.3% during the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd boosted its position in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares in the fourth quarter valued at about $37,000. Transce3nd LLC acquired a new position in Huntington Bancshares in the fourth quarter valued at about $48,000. Finally, Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after buying an additional 1,260 shares during the last quarter. 80.72% of the stock is currently 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.