Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Huntington Bancshares has a consensus analyst rating of "Moderate Buy" from 20 brokerages, with an average 1-year price target of $20.05.
• The company recently reported better-than-expected quarterly earnings, posting $0.37 EPS versus $0.16 expected, while revenue of $2.59 billion also slightly beat estimates.
• Huntington announced a quarterly dividend of $0.155 per share, which equates to an annualized yield of 3.8%.

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.05.

Several equities research analysts recently issued reports on HBAN shares. Piper Sandler raised shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a research report on Friday, January 23rd. Barclays lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, April 20th. Argus upped their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. Finally, DA Davidson lowered their price objective on Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, March 16th.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 65,530 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares of the company's stock, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James D. Rollins III bought 8,471 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $18.01 per share, for a total transaction of $152,562.71. Following the completion of the purchase, the director directly owned 11,500 shares in the company, valued at $207,115. The trade was a 279.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 39,200 shares of company stock valued at $756,724 and have sold 93,156 shares valued at $1,489,372. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at approximately $26,000. South Plains Financial Inc. grew its holdings in Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank's stock valued at $27,000 after buying an additional 826 shares during the last quarter. Centennial Bank AR bought a new position in Huntington Bancshares in the 4th quarter worth approximately $28,000. Finally, Accredited Wealth Management LLC increased its position in Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank's stock worth $29,000 after buying an additional 1,322 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Down 0.4%

NASDAQ:HBAN opened at $16.12 on Friday. The company has a market capitalization of $32.68 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.74 and a beta of 0.96. The stock's 50 day moving average price is $16.17 and its 200 day moving average price is $16.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a 52 week low of $14.89 and a 52 week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's dividend payout ratio is presently 47.69%.

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.

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