Huntington Bancshares’ (HBAN) “Overweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report released on Monday morning, Benzinga reports. The firm currently has a $16.00 price objective on the bank’s stock.

HBAN has been the topic of several other reports. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Barclays raised Huntington Bancshares from an underweight rating to an equal weight rating and upped their target price for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. StockNews.com lowered Huntington Bancshares from a hold rating to a sell rating in a research report on Friday, December 29th. Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a market perform rating in a research report on Friday, April 5th. Finally, Evercore ISI upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $15.17.

Huntington Bancshares Stock Up 1.9 %

Shares of Huntington Bancshares stock opened at $13.53 on Monday. The stock’s fifty day moving average is $13.29 and its 200-day moving average is $12.19. The firm has a market capitalization of $19.62 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 12-month low of $9.13 and a 12-month high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the previous year, the firm earned $0.38 earnings per share. Equities analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.58%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 28,700 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on 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 owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 in the last 90 days. 0.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in shares of Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after buying an additional 780 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Huntington Bancshares by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after buying an additional 794 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Huntington Bancshares by 5.8% in the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after buying an additional 837 shares in the last quarter. Financial Advocates Investment Management raised its holdings in shares of Huntington Bancshares by 5.9% in the 4th quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock worth $195,000 after buying an additional 856 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Huntington Bancshares by 12.0% in the 4th quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock worth $108,000 after buying an additional 904 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.