Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts' consensus: HBAN has a "Moderate Buy" consensus from 20 brokers (14 buys, 1 strong buy, 4 holds, 1 sell) with an average 12‑month target of $20.13, though several firms have trimmed targets to roughly $19–$21 recently.
• Earnings and valuation: Q4 results missed estimates (EPS $0.37 vs. $0.40; revenue $1.61B vs. $2.21B) and the stock trades around $16.58 with a PE of 11.93, below analyst target levels.
• Income and ownership: Huntington pays a quarterly dividend of $0.155 (annualized $0.62) for a 3.7% yield

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.1250.

A number of research firms have recently commented on HBAN. Evercore cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. DA Davidson decreased their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 16th. Jefferies Financial Group lowered their price objective on shares of Huntington Bancshares from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th.

Huntington Bancshares Stock Down 0.2%

Shares of NASDAQ:HBAN opened at $16.58 on Wednesday. The firm has a market capitalization of $33.78 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.72 and a beta of 0.95. The business has a 50 day simple moving average of $16.58 and a two-hundred day simple moving average of $16.73. Huntington Bancshares has a 1 year low of $13.10 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly 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 business had revenue of $1.61 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.7%. Huntington Bancshares's dividend payout ratio (DPR) is 44.60%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director Gary Torgow acquired 14,200 shares of the stock in a transaction dated Thursday, February 19th. The stock was purchased at an average price of $17.81 per share, with a total value of $252,902.00. Following the transaction, the director directly owned 943,341 shares of the company's stock, valued at $16,800,903.21. This trade represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James D. Rollins III acquired 1,127 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average cost of $25.39 per share, with a total value of $28,614.53. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at $101,560. The trade was a 39.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 27,700 shares of company stock valued at $540,401 and have sold 98,986 shares valued at $1,600,958. Corporate insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC increased its stake in shares of Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank's stock valued at $141,625,000 after purchasing an additional 1,652,464 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Huntington Bancshares by 7.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 157,998 shares of the bank's stock worth $2,741,000 after purchasing an additional 11,363 shares in the last quarter. Fund Advisors of America Inc FL purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $222,000. World Investment Advisors grew its holdings in Huntington Bancshares by 8.8% in the fourth quarter. World Investment Advisors now owns 23,076 shares of the bank's stock valued at $400,000 after purchasing an additional 1,870 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Huntington Bancshares by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 755,843 shares of the bank's stock valued at $13,115,000 after purchasing an additional 43,618 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Company Profile

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.

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