Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its target price upped by Truist Financial from $20.00 to $21.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock.

A number of other equities research analysts have also weighed in on HBAN. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. DA Davidson reiterated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, October 28th. Raymond James Financial boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. Jefferies Financial Group raised their target price on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Huntington Bancshares Stock Down 2.1%

Shares of HBAN opened at $17.06 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.91. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.71 and a beta of 0.95. The stock has a fifty day moving average of $17.39 and a 200-day moving average of $16.87.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period in the previous year, the company earned $0.34 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis purchased 6,506 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was acquired at an average cost of $15.30 per share, for a total transaction of $99,541.80. Following the completion of the purchase, the director owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 97,863 shares of company stock worth $1,581,634. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. MTM Investment Management LLC acquired a new stake in Huntington Bancshares in the second quarter worth $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $26,000. South Plains Financial Inc. boosted its position in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Accredited Wealth Management LLC grew its stake in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the period. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $31,000. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.