Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Huntington Bancshares Incorporated has received a consensus rating of "Moderate Buy" from analysts, with 15 buy recommendations and a 12-month price target of $19.76.
• The company has announced a dividend of $0.155 per share, resulting in an annualized yield of 3.9% for shareholders of record.
• Recent target price upgrades from analysts include a new price target of $21.00 by Citigroup and DA Davidson, indicating positive sentiment among major research firms.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.7632.

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, September 19th. DA Davidson upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Monday. Stephens upped their target price on Huntington Bancshares from $18.00 to $19.00 in a report on Friday, October 17th. Truist Financial upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Finally, Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "market perform" rating in a report on Monday.

Huntington Bancshares Price Performance

HBAN opened at $15.94 on Wednesday. The business has a fifty day moving average of $17.07 and a 200 day moving average of $16.14. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.44. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The stock has a market cap of $23.25 billion, a P/E ratio of 11.15, a PEG ratio of 0.75 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $469.00 million during the quarter. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, December 18th. Huntington Bancshares's dividend payout ratio is currently 43.36%.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Family Legacy Financial Solutions LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter worth $25,000. MTM Investment Management LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter worth $25,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Huntington Bancshares in the 1st quarter worth $29,000. Quarry LP raised its position in shares of Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after acquiring an additional 814 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter worth $30,000. 80.72% of the stock is 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.

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