Huntington Bancshares Inc. (HBAN) Upgraded by Macquarie to Outperform
Macquarie upgraded shares of Huntington Bancshares Inc. (NASDAQ:HBAN) from a neutral rating to an outperform rating in a report released on Tuesday morning. The brokerage currently has $14.00 price objective on the stock, up from their previous price objective of $12.44.
A number of other research analysts also recently issued reports on HBAN. Sanford C. Bernstein restated a market perform rating on shares of Huntington Bancshares in a research report on Saturday. Jefferies Group restated a buy rating and set a $12.00 target price on shares of Huntington Bancshares in a research report on Thursday, November 3rd. Zacks Investment Research upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $12.00 target price for the company in a research report on Wednesday, November 2nd. Wedbush began coverage on shares of Huntington Bancshares in a research report on Thursday, October 6th. They set an outperform rating and a $12.00 target price for the company. Finally, FBR & Co downgraded shares of Huntington Bancshares from an outperform rating to a market perform rating and set a $11.00 target price for the company. in a research report on Tuesday, October 11th. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $11.34.
Huntington Bancshares (NASDAQ:HBAN) traded up 0.72% on Tuesday, hitting $12.61. 3,313,518 shares of the company’s stock traded hands. Huntington Bancshares has a one year low of $7.83 and a one year high of $12.66. The stock has a market cap of $13.68 billion, a PE ratio of 17.81 and a beta of 1.16. The stock has a 50-day moving average of $10.68 and a 200-day moving average of $9.90.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post $0.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Tuesday, December 20th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 2.56%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.07. Huntington Bancshares’s dividend payout ratio is currently 39.44%.
In other news, insider Sandra E. Pierce sold 52,994 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $11.62, for a total value of $615,790.28. Following the completion of the sale, the insider now owns 495,651 shares in the company, valued at approximately $5,759,464.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David S. Anderson sold 10,011 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $10.60, for a total transaction of $106,116.60. Following the completion of the sale, the executive vice president now owns 102,580 shares of the company’s stock, valued at approximately $1,087,348. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in Huntington Bancshares by 0.6% in the second quarter. MCF Advisors LLC now owns 15,028 shares of the company’s stock valued at $134,000 after buying an additional 86 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Huntington Bancshares by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 22,785 shares of the company’s stock worth $204,000 after buying an additional 92 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Huntington Bancshares by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 30,477 shares of the company’s stock worth $272,000 after buying an additional 121 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Huntington Bancshares by 0.8% in the third quarter. Cetera Advisor Networks LLC now owns 17,583 shares of the company’s stock worth $173,000 after buying an additional 136 shares in the last quarter. Finally, Concert Wealth Management Inc. increased its position in shares of Huntington Bancshares by 1.1% in the third quarter. Concert Wealth Management Inc. now owns 14,766 shares of the company’s stock worth $145,000 after buying an additional 163 shares in the last quarter. Institutional investors own 62.32% 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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