Deutsche Bank AG Upgrades Huntington Bancshares Inc. (HBAN) to “Buy”
Huntington Bancshares Inc. (NASDAQ:HBAN) was upgraded by Deutsche Bank AG from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $11.50 price target on the stock, up from their previous price target of $10.50. Deutsche Bank AG’s target price indicates a potential upside of 18.43% from the company’s previous close.
Several other analysts also recently weighed in on the company. FBR & Co raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a report on Monday, July 11th. Zacks Investment Research downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. BMO Capital Markets reissued a “market perform” rating and issued a $11.00 target price on shares of Huntington Bancshares in a report on Wednesday, July 6th. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $10.50 to $9.50 and set a “neutral” rating for the company in a report on Thursday, July 7th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Huntington Bancshares in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Huntington Bancshares currently has an average rating of “Hold” and a consensus price target of $11.08.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 9.71 on Wednesday. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 12.45 and a beta of 1.07. The firm has a 50-day moving average price of $9.75 and a 200 day moving average price of $9.67. Huntington Bancshares has a one year low of $7.83 and a one year high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same period last year, the firm earned $0.23 EPS. Equities analysts forecast that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 35.90%.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 35,350 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $340,774.00. Following the sale, the executive vice president now owns 434,650 shares in the company, valued at approximately $4,190,026. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David S. Anderson sold 9,006 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $9.82, for a total value of $88,438.92. Following the sale, the executive vice president now owns 110,233 shares in the company, valued at approximately $1,082,488.06. The disclosure for this sale can be found here. 1.65% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 4.3% in the second quarter. Vanguard Group Inc. now owns 76,653,889 shares of the company’s stock worth $685,286,000 after buying an additional 3,157,180 shares during the period. FMR LLC boosted its stake in shares of Huntington Bancshares by 3.1% in the second quarter. FMR LLC now owns 65,946,684 shares of the company’s stock worth $589,563,000 after buying an additional 1,995,364 shares during the period. State Street Corp boosted its stake in shares of Huntington Bancshares by 4.4% in the second quarter. State Street Corp now owns 44,499,941 shares of the company’s stock worth $397,830,000 after buying an additional 1,860,756 shares during the period. Boston Partners boosted its stake in shares of Huntington Bancshares by 8.3% in the second quarter. Boston Partners now owns 30,106,450 shares of the company’s stock worth $269,152,000 after buying an additional 2,301,937 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Huntington Bancshares by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 21,931,964 shares of the company’s stock worth $209,231,000 after buying an additional 258,631 shares during the period. Hedge funds and other institutional investors own 75.73% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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