Huntington Bancshares (NASDAQ:HBAN) PT Lowered to $16.00

Huntington Bancshares (NASDAQ:HBAN – Get Rating) had its target price lowered by Royal Bank of Canada from $18.00 to $16.00 in a research report sent to investors on Tuesday morning, The Fly reports.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley decreased their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set an overweight rating on the stock in a report on Monday, January 23rd. Wolfe Research upped their price target on shares of Huntington Bancshares from $13.00 to $14.00 in a report on Thursday, December 1st. Piper Sandler decreased their price target on shares of Huntington Bancshares from $15.00 to $14.50 in a report on Friday, March 10th. StockNews.com raised shares of Huntington Bancshares from a sell rating to a hold rating in a report on Tuesday, February 7th. Finally, JPMorgan Chase & Co. cut shares of Huntington Bancshares from a neutral rating to an underweight rating and decreased their price target for the stock from $15.50 to $14.50 in a report on Tuesday, December 13th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $15.47.

Huntington Bancshares Trading Down 0.6 %

NASDAQ:HBAN opened at $11.05 on Tuesday. The company has a market cap of $16.02 billion, a P/E ratio of 7.62, a P/E/G ratio of 0.27 and a beta of 1.11. The stock’s fifty day moving average price is $14.79 and its two-hundred day moving average price is $14.42. Huntington Bancshares has a 1 year low of $10.56 and a 1 year high of $15.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.84.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, March 17th. This represents a $0.62 annualized dividend and a yield of 5.61%. Huntington Bancshares’s payout ratio is 42.76%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director David L. Porteous sold 80,000 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the completion of the sale, the director now directly owns 62,845 shares in the company, valued at $943,303.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Advocates Investment Management lifted its holdings in Huntington Bancshares by 2.1% in the third quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank’s stock worth $439,000 after buying an additional 678 shares during the period. Assetmark Inc. increased its stake in shares of Huntington Bancshares by 4.4% during the third quarter. Assetmark Inc. now owns 16,156 shares of the bank’s stock valued at $213,000 after purchasing an additional 680 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Huntington Bancshares by 5.5% during the fourth quarter. Ballentine Partners LLC now owns 13,096 shares of the bank’s stock valued at $185,000 after purchasing an additional 681 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Huntington Bancshares by 6.8% during the third quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank’s stock valued at $151,000 after purchasing an additional 729 shares in the last quarter. Finally, Farmers Trust Co. increased its stake in shares of Huntington Bancshares by 0.7% during the fourth quarter. Farmers Trust Co. now owns 103,156 shares of the bank’s stock valued at $1,454,000 after purchasing an additional 767 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.