Analysts Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $18.48

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-three brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.48.

A number of research analysts recently commented on the company. Royal Bank Of Canada decreased their price target on Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. TD Cowen assumed coverage on Huntington Bancshares in a research note on Thursday, May 15th. They issued a "buy" rating and a $20.00 price objective on the stock. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday. Truist Financial raised their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research note on Thursday, July 3rd.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 59,060 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the completion of the sale, the chief financial officer owned 277,348 shares of the company's stock, valued at approximately $3,982,717.28. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 214,375 shares of company stock valued at $3,049,277 in the last ninety days. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Huntington Bancshares by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank's stock worth $2,758,000 after buying an additional 668 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Huntington Bancshares by 2.4% during the first quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock valued at $436,000 after purchasing an additional 691 shares during the period. Carlson Capital Management raised its position in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock valued at $2,661,000 after purchasing an additional 692 shares during the period. Farther Finance Advisors LLC raised its position in Huntington Bancshares by 6.0% during the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock valued at $200,000 after purchasing an additional 699 shares during the period. Finally, Winch Advisory Services LLC raised its position in Huntington Bancshares by 18.3% during the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock valued at $69,000 after purchasing an additional 709 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

HBAN traded down $0.32 during trading hours on Monday, reaching $17.07. The company's stock had a trading volume of 69,005,730 shares, compared to its average volume of 23,786,475. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44. The company's 50-day moving average is $16.10 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $24.94 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter last year, the business earned $0.27 EPS. On average, equities analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares announced that its board has initiated a stock buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Tuesday, June 17th. Huntington Bancshares's dividend payout ratio is presently 47.33%.

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.