Huntington Bancshares Incorporated (HBAN) Given Average Recommendation of “Hold” by Brokerages
Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.13.
A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the stock a “hold” rating in a research report on Saturday, June 24th. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Instinet restated a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday. Finally, BMO Capital Markets restated a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, June 9th.
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In other Huntington Bancshares news, EVP Paul G. Heller sold 35,720 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total transaction of $461,859.60. Following the completion of the transaction, the executive vice president now directly owns 443,883 shares of the company’s stock, valued at approximately $5,739,407.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen D. Steinour purchased 50,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Federated Investors Inc. PA raised its position in shares of Huntington Bancshares by 6.9% in the fourth quarter. Federated Investors Inc. PA now owns 81,540 shares of the bank’s stock worth $1,079,000 after buying an additional 5,288 shares during the last quarter. Elkhorn Investments LLC bought a new stake in Huntington Bancshares during the fourth quarter valued at $753,000. Quadrature Capital Ltd bought a new stake in Huntington Bancshares during the fourth quarter valued at $3,787,000. Wealthfront Inc. raised its stake in Huntington Bancshares by 23.5% in the fourth quarter. Wealthfront Inc. now owns 18,945 shares of the bank’s stock valued at $250,000 after buying an additional 3,609 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at $182,000. 75.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Huntington Bancshares (HBAN) traded down 0.58% on Tuesday, hitting $13.79. The company’s stock had a trading volume of 8,334,984 shares. Huntington Bancshares has a 1-year low of $9.10 and a 1-year high of $14.74. The firm has a market cap of $14.99 billion, a PE ratio of 19.99 and a beta of 1.37. The company has a 50 day moving average of $12.90 and a 200 day moving average of $13.29.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Huntington Bancshares had a return on equity of 11.07% and a net margin of 17.54%. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities analysts forecast that Huntington Bancshares will post $0.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, June 15th. Huntington Bancshares’s payout ratio is currently 49.23%.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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