Huntington Bancshares Inc. (HBAN) Coverage Initiated at Wedbush
Investment analysts at Wedbush started coverage on shares of Huntington Bancshares Inc. (NASDAQ:HBAN) in a research report issued on Thursday. The brokerage set an “outperform” rating on the stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank AG raised Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.50 to $11.50 in a report on Wednesday, September 28th. Jefferies Group reissued a “buy” rating on shares of Huntington Bancshares in a report on Thursday, August 4th. JPMorgan Chase & Co. restated a “hold” rating and set a $9.50 price target on shares of Huntington Bancshares in a research note on Friday, July 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $9.23 price target (down previously from $10.00) on shares of Huntington Bancshares in a research note on Friday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $11.08.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded up 0.20% on Thursday, reaching $10.16. 9,731,722 shares of the company’s stock traded hands. The firm’s 50 day moving average is $9.79 and its 200 day moving average is $9.68. The firm has a market capitalization of $8.12 billion, a P/E ratio of 13.03 and a beta of 1.13. Huntington Bancshares has a 52 week low of $7.83 and a 52 week high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a net margin of 20.85% and a return on equity of 11.07%. During the same period last year, the company earned $0.23 earnings per share. Analysts expect that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, September 15th. This represents a $0.28 annualized dividend and a yield of 2.76%. Huntington Bancshares’s dividend payout ratio is presently 35.90%.
In related news, EVP Nicholas G. Stanutz sold 35,350 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 434,650 shares in the company, valued at approximately $4,190,026. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David S. Anderson sold 9,006 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Aperio Group LLC increased its stake in shares of Huntington Bancshares by 27.8% in the first quarter. Aperio Group LLC now owns 294,254 shares of the company’s stock valued at $2,807,000 after buying an additional 63,976 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Huntington Bancshares during the first quarter valued at $1,386,000. IFP Advisors Inc increased its stake in shares of Huntington Bancshares by 51.2% in the first quarter. IFP Advisors Inc now owns 30,752 shares of the company’s stock valued at $293,000 after buying an additional 10,418 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Huntington Bancshares by 180.7% in the first quarter. Ngam Advisors L.P. now owns 144,505 shares of the company’s stock valued at $1,379,000 after buying an additional 93,023 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Huntington Bancshares by 7.6% in the first quarter. Prudential Financial Inc. now owns 3,348,869 shares of the company’s stock valued at $31,949,000 after buying an additional 235,700 shares during the last quarter. Institutional investors and hedge funds 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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