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

Key Points

• Huntington Bancshares has received a consensus recommendation of "Moderate Buy" from 21 analysts, with an average 12-month target price of $18.89.
• The company announced a quarterly dividend of $0.155 per share, translating to an annualized dividend yield of 3.6%.
• Recent changes in analyst ratings include Wolfe Research's upgrade of the stock to "outperform" and a target raise to $21.00, while Wall Street Zen downgraded it to "sell."

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.8947.

A number of equities analysts recently commented on the company. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, September 12th. DA Davidson upped their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Jefferies Financial Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.42 on Friday. The company has a market cap of $25.41 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The firm has a 50-day moving average of $17.07 and a 200-day moving average of $15.93. Huntington Bancshares has a one year low of $11.91 and a one year high of $18.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is presently 45.93%.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company's stock, valued at $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in HBAN. Norges Bank bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $374,474,000. AQR Capital Management LLC raised its stake in Huntington Bancshares by 274.9% in the first quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank's stock valued at $157,292,000 after purchasing an additional 7,889,004 shares in the last quarter. Invesco Ltd. lifted its position in Huntington Bancshares by 8.7% during the first quarter. Invesco Ltd. now owns 57,186,593 shares of the bank's stock worth $858,371,000 after purchasing an additional 4,586,607 shares during the period. Amundi grew its stake in Huntington Bancshares by 26.2% during the first quarter. Amundi now owns 22,011,639 shares of the bank's stock worth $330,395,000 after buying an additional 4,576,432 shares in the last quarter. Finally, Nuveen LLC bought a new position in Huntington Bancshares in the 1st quarter valued at about $50,078,000. 80.72% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.