Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $20.24 Average Price Target from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given an average rating of “Moderate Buy” by the twenty-four research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $20.2391.

Several equities analysts recently commented on the stock. UBS Group upped their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Jefferies Financial Group set a $18.00 price target on Huntington Bancshares in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th.

Huntington Bancshares Trading Down 0.5%

Huntington Bancshares stock opened at $16.77 on Friday. Huntington Bancshares has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market capitalization of $33.88 billion, a PE ratio of 13.00, a PEG ratio of 0.92 and a beta of 0.92. The business’s 50-day simple moving average is $17.39 and its 200-day simple moving average is $16.74.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts forecast that Huntington Bancshares will post 1.61 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares’s payout ratio is currently 48.06%.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of Huntington Bancshares stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. The trade was a 28.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Huntington Bancshares during the 2nd quarter valued at about $3,134,426,000. California State Teachers Retirement System increased its stake in Huntington Bancshares by 1,901.5% during the 2nd quarter. California State Teachers Retirement System now owns 50,838,045 shares of the bank’s stock worth $901,359,000 after purchasing an additional 48,297,988 shares in the last quarter. Norges Bank bought a new stake in Huntington Bancshares during the 4th quarter worth approximately $432,584,000. Bank of America Corp DE acquired a new stake in Huntington Bancshares during the 2nd quarter worth approximately $256,772,000. Finally, Bank of New York Mellon Corp acquired a new stake in Huntington Bancshares during the 2nd quarter worth approximately $229,246,000. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company offers consumer and commercial deposit accounts, lending products, mortgage banking, wealth management, investment services, insurance, payment solutions and treasury management. Its lending activities include residential mortgages, auto loans, consumer credit, small-business financing and commercial loans.

Founded in 1866, Huntington serves customers through branches, digital banking channels and business offices across the Midwest and other selected markets.