Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Huntington Bancshares has an average analyst rating of “Moderate Buy”, with 14 of 20 analysts rating it a buy or strong buy and a consensus price target of $20.05.
• The company recently reported strong quarterly results, posting EPS of $0.37 versus expectations of $0.16 and revenue of $2.59 billion, slightly above estimates.
• Huntington also declared a quarterly dividend of $0.155 per share, equal to an annualized yield of about 3.5%, while insiders recently sold shares and institutional investors continue to hold a large majority of the stock.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $20.05.

HBAN has been the topic of several research reports. Barclays downgraded shares of Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research report on Monday, April 20th. Truist Financial reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, March 13th. Piper Sandler upgraded shares of Huntington Bancshares from a "strong sell" rating to a "hold" rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. Wall Street Zen raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Wolfe Research reduced their price objective on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st.

Huntington Bancshares Stock Performance

HBAN stock opened at $17.79 on Monday. The business has a fifty day moving average price of $16.50 and a 200 day moving average price of $16.89. Huntington Bancshares has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The stock has a market capitalization of $36.06 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

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

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares's dividend payout ratio is currently 47.69%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have acquired 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company's stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank's stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. State Street Corp raised its position in shares of Huntington Bancshares by 4.7% during the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank's stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank's stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares during the last quarter. Boston Partners raised its position in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank's stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank's stock valued at $1,092,562,000 after acquiring an additional 3,908,927 shares during the last quarter. Institutional investors own 80.72% of the company's stock.

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.