Barclays Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its price objective lifted by Barclays from $17.00 to $19.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

HBAN has been the subject of a number of other research reports. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group lifted their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Stock Down 0.7 %

Shares of HBAN opened at $16.43 on Monday. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 3.42 and a beta of 1.07. The company has a 50-day moving average price of $17.02 and a two-hundred day moving average price of $15.29. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. 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 analysts predict that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.77%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, 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 approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the business. UMB Bank n.a. increased its stake in 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 in the last quarter. Dillon & Associates Inc. increased its position in shares of Huntington Bancshares by 5.9% during the third quarter. Dillon & Associates Inc. now owns 14,354 shares of the bank’s stock worth $215,000 after acquiring an additional 795 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Huntington Bancshares by 1.3% during the third quarter. Integrated Wealth Concepts LLC now owns 62,392 shares of the bank’s stock worth $917,000 after acquiring an additional 800 shares during the period. Lake Street Advisors Group LLC lifted its position in Huntington Bancshares by 5.0% in the 3rd quarter. Lake Street Advisors Group LLC now owns 17,783 shares of the bank’s stock valued at $264,000 after acquiring an additional 846 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in Huntington Bancshares by 1.1% in the 3rd quarter. Metis Global Partners LLC now owns 79,427 shares of the bank’s stock worth $1,168,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.