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

Key Points

• Huntington Bancshares has received a consensus rating of "Moderate Buy" from 21 research firms, with an average price objective of $18.68.
• Recent insider activity includes EVP Marcy C. Hingst selling 13,700 shares at an average price of $15.79, reducing her ownership stake by 3.90%.
• The company declared a quarterly dividend of $0.155 per share, with a dividend yield of 3.5%, to be paid on October 1st.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-one analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.7368.

HBAN has been the subject of a number of research reports. Citigroup increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Truist Financial lifted their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. TD Cowen assumed coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 price target for the company. Wolfe Research upgraded 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. Finally, DA Davidson increased their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, July 21st.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 13,700 shares of the business'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 transaction, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.89% of the company's stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently made changes to their positions in HBAN. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank's stock worth $2,954,792,000 after acquiring an additional 2,343,244 shares in the last quarter. Boston Partners lifted its position in Huntington Bancshares by 4.8% in the second quarter. Boston Partners now owns 60,939,048 shares of the bank's stock valued at $1,020,382,000 after acquiring an additional 2,776,429 shares during the last quarter. Invesco Ltd. increased its stake in Huntington Bancshares by 1.8% in the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank's stock valued at $975,460,000 after purchasing an additional 1,015,066 shares during the period. Geode Capital Management LLC grew its position in Huntington Bancshares by 1.7% during the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank's stock worth $658,541,000 after buying an additional 640,852 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Huntington Bancshares by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank's stock valued at $475,558,000 after buying an additional 397,141 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Down 0.4%

Shares of NASDAQ HBAN traded down $0.07 during mid-day trading on Tuesday, reaching $17.61. The company had a trading volume of 24,903,597 shares, compared to its average volume of 22,934,182. The stock has a fifty day moving average of $16.91 and a two-hundred day moving average of $15.73. The company has a market capitalization of $25.69 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. Huntington Bancshares has a 12-month low of $11.91 and a 12-month high of $18.44.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is 45.93%.

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.