Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Has Average Target Price of $18.98 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Twenty-three firms give Huntington Bancshares a consensus “Moderate Buy” rating, with 13 buys, seven holds, two sells and one strong buy. The average 12-month price target is $18.98, above the reported share price of $15.78.
• Recent financial results were mixed: Huntington reported quarterly EPS of $0.38, in line with estimates, while revenue of $2.79 billion fell slightly short of expectations. Analysts expect full-year EPS of approximately $1.54.
• Insiders and institutions have been buying: Two directors purchased shares, while major institutional investors including BlackRock, Dimensional Fund Advisors and Amundi increased or initiated positions. The company also declared a quarterly dividend of $0.155, representing a 3.9% annualized yield.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-three research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.98.

A number of research analysts have recently issued reports on the stock. Bank of America downgraded shares of Huntington Bancshares from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $18.50 in a research report on Monday, July 27th. UBS Group set a $18.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods lowered their target price on shares of Huntington Bancshares from $19.50 to $18.00 and set a "market perform" rating for the company in a research note on Tuesday, October 6th. Truist Financial dropped their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Zacks Research lowered shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th.

Insider Activity

In other Huntington Bancshares news, Director James Rollins, III bought 14,000 shares of the business's stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the transaction, the director directly owned 15,500 shares in the company, valued at approximately $280,860. This trade represents a 933.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Torgow bought 12,700 shares of the firm's stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average cost of $15.73 per share, with a total value of $199,771.00. Following the purchase, the director directly owned 956,041 shares of the company's stock, valued at $15,038,524.93. This trade represents a 1.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Huntington Bancshares during the second quarter valued at about $3,134,426,000. Dimensional Fund Advisors LP lifted its holdings in Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank's stock worth $367,388,000 after buying an additional 5,026,894 shares during the period. Amundi lifted its holdings in Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank's stock worth $305,215,000 after buying an additional 4,578,566 shares during the period. Bank of America Corp DE bought a new stake in Huntington Bancshares during the 2nd quarter valued at approximately $256,772,000. Finally, Bank of New York Mellon Corp boosted its position in Huntington Bancshares by 17.8% during the 1st quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank's stock valued at $206,339,000 after acquiring an additional 1,993,618 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

Shares of HBAN opened at $15.78 on Friday. Huntington Bancshares has a 1 year low of $14.82 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95. The business has a 50-day moving average of $15.96 and a 200-day moving average of $16.70.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The business had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.54 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a $0.1550 dividend. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. Huntington Bancshares's dividend payout ratio (DPR) is 51.24%.

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's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

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