Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $16.00

Huntington Bancshares (NASDAQ:HBAN) had its price target raised by Argus from $15.00 to $16.00 in a research report released on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the bank’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Huntington Bancshares from a hold rating to a sell rating in a research note on Wednesday, June 19th. Piper Sandler boosted their price target on Huntington Bancshares from $11.50 to $13.50 and gave the company an underweight rating in a research note on Monday. Jefferies Financial Group cut their price target on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a research note on Monday. Finally, Evercore ISI cut their price target on Huntington Bancshares from $16.50 to $15.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $15.50.

Huntington Bancshares Trading Up 0.9 %

Shares of NASDAQ:HBAN opened at $15.06 on Monday. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24. The stock has a market cap of $21.83 billion, a PE ratio of 13.57, a P/E/G ratio of 3.08 and a beta of 1.06. The business has a 50 day moving average of $13.43 and a 200-day moving average of $13.29. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other news, VP Rajeev Syal sold 27,265 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the transaction, the vice president now directly owns 397,173 shares in the company, valued at approximately $5,365,807.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Rajeev Syal sold 27,265 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the transaction, the vice president now directly owns 397,173 shares in the company, valued at approximately $5,365,807.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,418 shares of company stock worth $2,214,979. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fullcircle Wealth LLC acquired a new stake in Huntington Bancshares in the second quarter valued at $151,000. Atlantic Union Bankshares Corp acquired a new stake in Huntington Bancshares in the second quarter valued at $411,000. Van Lanschot Kempen Investment Management N.V. increased its holdings in Huntington Bancshares by 4.1% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 734,880 shares of the bank’s stock valued at $9,686,000 after purchasing an additional 28,640 shares during the period. Everhart Financial Group Inc. increased its holdings in Huntington Bancshares by 1.8% in the second quarter. Everhart Financial Group Inc. now owns 54,470 shares of the bank’s stock valued at $718,000 after purchasing an additional 984 shares during the period. Finally, JB Capital LLC increased its holdings in Huntington Bancshares by 2.4% in the second quarter. JB Capital LLC now owns 185,954 shares of the bank’s stock valued at $2,451,000 after purchasing an additional 4,287 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.