DA Davidson Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price target cut by DA Davidson from $22.00 to $20.00 in a research note issued to investors on Monday morning, MarketBeat reports. They currently have a buy rating on the bank’s stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company dropped their target price on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, September 16th. Robert W. Baird upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a research note on Monday, July 6th. Weiss Ratings raised Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Finally, Bank of America restated a “neutral” rating and issued a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $20.07.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.38 on Monday. The company has a 50-day simple moving average of $17.11 and a 200-day simple moving average of $16.69. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $31.07 billion, a PE ratio of 11.92, a P/E/G ratio of 0.90 and a beta of 0.92. Huntington Bancshares has a 52-week low of $14.89 and a 52-week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same quarter last year, the business earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts predict that Huntington Bancshares will post 1.53 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 48.06%.

Insider Activity at Huntington Bancshares

In related news, insider Kendall Kowalski sold 27,971 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider owned 70,025 shares of the company’s stock, valued at $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HBAN. BlackRock Inc. purchased a new stake in shares of Huntington Bancshares during the second quarter worth about $3,134,426,000. Geode Capital Management LLC lifted its stake in shares of Huntington Bancshares by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 43,171,993 shares of the bank’s stock valued at $746,257,000 after buying an additional 3,074,673 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 37,412,989 shares of the bank’s stock valued at $649,115,000 after buying an additional 3,182,001 shares during the period. Norges Bank acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $432,584,000. Finally, Dimensional Fund Advisors LP boosted its position in Huntington Bancshares by 27.2% during the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after acquiring an additional 5,026,894 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.