Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $13.66 Consensus Target Price from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.72.

HBAN has been the topic of a number of analyst reports. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Citigroup boosted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada upped their price target on Huntington Bancshares from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, December 18th.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 28,700 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the transaction, the insider now owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock worth $1,360,359 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System boosted its position in Huntington Bancshares by 2.3% during the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock valued at $29,066,000 after purchasing an additional 62,674 shares during the last quarter. Comerica Bank acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $5,261,000. Vest Financial LLC lifted its position in shares of Huntington Bancshares by 16.5% in the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after buying an additional 141,410 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Huntington Bancshares by 199.6% in the third quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock valued at $3,893,000 after buying an additional 249,356 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Huntington Bancshares by 5.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 120,744 shares of the bank’s stock valued at $1,256,000 after buying an additional 5,740 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

HBAN opened at $13.95 on Tuesday. The stock has a market cap of $20.23 billion, a PE ratio of 11.25 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $13.97. The stock’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $11.79.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business posted $0.43 earnings per share. Sell-side analysts forecast that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.62 annualized dividend and a dividend yield of 4.44%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.00%.

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.