Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Huntington Bancshares has a “Moderate Buy” consensus rating from 24 analysts, with 15 buy ratings, seven holds, one sell and one strong buy. The average 12-month price target is $20.24, above the reported share price of $17.95.
• The bank’s latest quarterly results met expectations, with earnings per share of $0.39 and revenue of $2.86 billion versus estimates of $2.84 billion. Analysts project full-year earnings of approximately $1.61 per share.
• Huntington declared a quarterly dividend of $0.155 per share, equivalent to $0.62 annually and a 3.5% yield. Insiders have been net sellers over the past three months, while institutional investors own 80.72% of the stock.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-four ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.2391.

A number of analysts recently weighed in on HBAN shares. Truist Financial lifted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Robert W. Baird raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 target price on the stock in a research report on Thursday, April 23rd. Finally, Evercore reaffirmed an "outperform" rating and set a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, July 6th.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.95 on Tuesday. 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 cap of $36.27 billion, a P/E ratio of 13.91, a PEG ratio of 0.85 and a beta of 0.94. Huntington Bancshares has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a 50-day moving average price of $17.59 and a 200 day moving average price of $16.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same quarter in the previous year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts predict that Huntington Bancshares will post 1.61 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's payout ratio is currently 48.06%.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kendall A. Kowalski sold 27,971 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total value of $481,101.20. Following the sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. This trade represents a 28.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of the company. First Bancorp Inc ME purchased a new stake in Huntington Bancshares during the second quarter worth $389,000. MV Capital Management Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares during the 4th quarter worth $28,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Huntington Bancshares in the 2nd quarter worth about $29,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source