Raymond James Reiterates "Strong-Buy" Rating for Huntington Bancshares (NASDAQ:HBAN)

Raymond James reissued their strong-buy rating on shares of Huntington Bancshares (NASDAQ:HBAN - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a $18.00 target price on the bank's stock, down from their prior target price of $20.00.

A number of other equities analysts have also recently issued reports on the company. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Piper Sandler decreased their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price target for the company in a report on Friday, March 7th. Finally, Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.45.

Huntington Bancshares Trading Down 1.0 %

HBAN stock traded down $0.15 during midday trading on Monday, reaching $14.40. 17,839,315 shares of the company traded hands, compared to its average volume of 17,360,714. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The business has a 50 day moving average of $14.60 and a 200-day moving average of $15.99. Huntington Bancshares has a 52-week low of $11.92 and a 52-week high of $18.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter last year, the business earned $0.27 EPS. As a group, sell-side analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its board has initiated a stock repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is currently 47.33%.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the completion of the transaction, the vice president now directly owns 326,456 shares of the company's stock, valued at approximately $4,469,182.64. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 207,617 shares of company stock valued at $2,942,892. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Creative Capital Management Investments LLC lifted its stake in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after purchasing an additional 1,578 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares in the first quarter worth about $29,000. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after acquiring an additional 1,023 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the period. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at about $37,000. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.