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

Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) has earned an average recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $15.47.

Several research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Huntington Bancshares from $15.00 to $14.50 in a report on Friday, March 10th. DA Davidson assumed coverage on shares of Huntington Bancshares in a report on Tuesday, December 20th. They issued a “neutral” rating and a $15.00 price target on the stock. They noted that the move was a valuation call. Wolfe Research lifted their target price on shares of Huntington Bancshares from $13.00 to $14.00 in a research report on Thursday, December 1st. Morgan Stanley dropped their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. downgraded Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $15.50 to $14.50 in a report on Tuesday, December 13th.

Huntington Bancshares Trading Up 2.6 %

Shares of HBAN stock opened at $11.13 on Friday. The company has a market cap of $16.13 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.23 and a beta of 1.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.62. Huntington Bancshares has a 12 month low of $9.94 and a 12 month high of $15.74. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $14.38.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 20th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 5.57%. The ex-dividend date of this dividend is Friday, March 17th. Huntington Bancshares’s payout ratio is presently 42.76%.

Insider Activity

In related news, Director David L. Porteous sold 80,000 shares of the stock in a transaction on 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 transaction, the director now owns 62,845 shares in the company, valued at $943,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Huntington Bancshares by 1.1% during the third quarter. Vanguard Group Inc. now owns 167,706,810 shares of the bank’s stock worth $2,210,376,000 after acquiring an additional 1,780,935 shares during the period. BlackRock Inc. increased its holdings in Huntington Bancshares by 1.9% in the 3rd quarter. BlackRock Inc. now owns 140,041,365 shares of the bank’s stock valued at $1,845,745,000 after buying an additional 2,554,894 shares during the period. State Street Corp boosted its position in shares of Huntington Bancshares by 3.1% during the 3rd quarter. State Street Corp now owns 76,435,572 shares of the bank’s stock worth $1,018,994,000 after acquiring an additional 2,266,557 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Huntington Bancshares by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,907,624 shares of the bank’s stock worth $1,070,297,000 after acquiring an additional 3,618,731 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 45,267,633 shares of the bank’s stock worth $628,325,000 after acquiring an additional 2,912,638 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

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.