Huntington Bancshares Incorporated (HBAN) Receives $15.24 Consensus Price Target from Brokerages
Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus rating of “Buy” from the nineteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.24.
A number of brokerages have recently commented on HBAN. Piper Jaffray Companies reissued a “buy” rating and issued a $15.50 price objective on shares of Huntington Bancshares in a research report on Tuesday, October 17th. FBR & Co reissued a “hold” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a research report on Thursday, October 26th. BMO Capital Markets lowered shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price objective on the stock. in a research report on Thursday, October 26th. Nomura boosted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.25 price objective on shares of Huntington Bancshares in a research report on Friday, October 13th.
Shares of Huntington Bancshares (NASDAQ HBAN) traded down $0.11 on Monday, reaching $13.40. 8,295,206 shares of the company’s stock were exchanged, compared to its average volume of 9,534,781. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a 1 year low of $11.90 and a 1 year high of $14.74. The company has a market capitalization of $14,700.00, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.55 and a beta of 1.34.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.11 EPS. research analysts forecast that Huntington Bancshares will post 0.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 18th will be issued a $0.11 dividend. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, December 15th. Huntington Bancshares’s payout ratio is currently 38.55%.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at $5,690,546.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 14,513 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the completion of the transaction, the insider now owns 499,824 shares in the company, valued at $6,882,576.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,004 shares of company stock worth $1,006,859. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new position in shares of Huntington Bancshares in the third quarter valued at about $539,000. Opus Investment Management Inc. bought a new stake in Huntington Bancshares during the third quarter worth about $1,543,000. RWC Asset Management LLP lifted its position in Huntington Bancshares by 22.5% during the third quarter. RWC Asset Management LLP now owns 2,973,996 shares of the bank’s stock worth $41,517,000 after purchasing an additional 546,133 shares during the period. Neuberger Berman Group LLC lifted its position in Huntington Bancshares by 5.1% during the third quarter. Neuberger Berman Group LLC now owns 2,683,644 shares of the bank’s stock worth $37,464,000 after purchasing an additional 130,067 shares during the period. Finally, California Public Employees Retirement System lifted its position in Huntington Bancshares by 2.6% during the third quarter. California Public Employees Retirement System now owns 3,146,111 shares of the bank’s stock worth $43,920,000 after purchasing an additional 79,713 shares during the period. Institutional investors and hedge funds own 73.84% of the company’s stock.
Huntington Bancshares Company Profile
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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