Huntington Bancshares (NASDAQ:HBAN) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a sell rating to a hold rating in a research report released on Friday.

A number of other research analysts have also recently commented on the company. Bank of America upped their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Friday. Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Evercore ISI lowered their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average target price of $15.91.

Huntington Bancshares Price Performance

HBAN stock opened at $15.36 on Friday. 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 $22.26 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The business has a 50 day simple moving average of $14.56 and a 200-day simple moving average of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities research analysts anticipate that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.04%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares 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 sale, the insider now directly owns 65,899 shares of the company’s stock, valued at $987,167.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,622 shares of company stock worth $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Asset Dedication LLC increased its position in Huntington Bancshares by 200.7% during 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 during the period. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at $29,000. Peoples Bank KS acquired a new stake in Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. grew its position in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in Huntington Bancshares in the first quarter valued at $40,000. 80.72% of the stock is 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.