Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Rating of “Hold” from Brokerages

Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) has earned an average recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.13.

HBAN has been the subject of several research reports. Wolfe Research lowered shares of Huntington Bancshares from a “peer perform” rating to an “underperform” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Thursday, May 26th. JPMorgan Chase & Co. cut shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $17.50 to $14.50 in a research note on Friday, July 1st. Argus upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday, July 28th. Raymond James lowered their target price on Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 7th. Finally, Piper Sandler cut Huntington Bancshares from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $13.50 in a research report on Friday, July 8th.

Huntington Bancshares Trading Down 2.3 %

NASDAQ:HBAN opened at $13.41 on Friday. The company has a market cap of $19.34 billion, a PE ratio of 11.97 and a beta of 1.18. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $13.61 and a two-hundred day simple moving average of $13.54. Huntington Bancshares has a 12 month low of $11.67 and a 12 month high of $17.79.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same period last year, the company earned $0.35 earnings per share. Research analysts forecast that Huntington Bancshares will post 1.46 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Friday, September 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.36%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total value of $166,834.48. Following the sale, the chief financial officer now owns 230,394 shares in the company, valued at approximately $3,308,457.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, Director Gary Torgow acquired 19,382 shares of the stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the transaction, the director now directly owns 893,301 shares of the company’s stock, valued at $11,523,582.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the sale, the chief financial officer now owns 230,394 shares in the company, valued at $3,308,457.84. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PDS Planning Inc boosted its holdings in shares of Huntington Bancshares by 3.0% in the 1st quarter. PDS Planning Inc now owns 26,368 shares of the bank’s stock worth $386,000 after purchasing an additional 778 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Huntington Bancshares by 8.6% in the second quarter. Brown Brothers Harriman & Co. now owns 9,865 shares of the bank’s stock valued at $119,000 after acquiring an additional 784 shares during the period. Wrapmanager Inc. lifted its holdings in shares of Huntington Bancshares by 2.6% in the 1st quarter. Wrapmanager Inc. now owns 31,433 shares of the bank’s stock worth $460,000 after acquiring an additional 793 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in shares of Huntington Bancshares by 4.9% during the 2nd quarter. Gilbert & Cook Inc. now owns 17,291 shares of the bank’s stock worth $208,000 after purchasing an additional 815 shares during the period. Finally, Guardian Wealth Management Inc. grew its holdings in Huntington Bancshares by 3.5% during the 1st quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after purchasing an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

About Huntington Bancshares

(Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

See Also

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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