Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Recommendation of “Moderate Buy” by Analysts

Huntington Bancshares Incorporated (NASDAQ:HBAN) has received a consensus recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.05.

Several research analysts recently commented on the company. Morgan Stanley cut their price target on Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Evercore cut their price target on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Jefferies Financial Group upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, April 24th. DA Davidson cut their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Barclays cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th.

Huntington Bancshares Trading Down 0.2%

NASDAQ:HBAN opened at $16.49 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a one year low of $14.89 and a one year high of $19.45. The business’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $16.80. The stock has a market cap of $33.43 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.75 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares will post 1.61 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.8%. Huntington Bancshares’s dividend payout ratio is presently 47.69%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director James D. Rollins III acquired 4,798 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $20.30 per share, for a total transaction of $97,399.40. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at $203,000. This represents a 92.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the sale, the insider owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 33,500 shares of company stock worth $617,542 over the last quarter. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. grew its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the last quarter. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $28,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors and hedge funds 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.