Huntington Bancshares (NASDAQ:HBAN - Free Report) had its price target trimmed by Royal Bank of Canada from $20.00 to $18.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the bank's stock.
HBAN has been the topic of several other reports. Stephens reaffirmed an "equal weight" rating and set a $16.50 price objective on shares of Huntington Bancshares in a research report on Monday, April 21st. Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Truist Financial boosted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Morgan Stanley decreased their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.45.
Read Our Latest Analysis on HBAN
Huntington Bancshares Trading Down 1.0 %
Shares of HBAN stock traded down $0.15 during mid-day trading on Monday, reaching $14.40. The stock had a trading volume of 17,839,315 shares, compared to its average volume of 17,360,714. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $21.03 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Huntington Bancshares has a 52-week low of $11.92 and a 52-week high of $18.45. The stock's 50-day moving average price is $14.60 and its two-hundred day moving average price is $15.99.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.89 billion. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.
Huntington Bancshares announced that its Board of Directors has initiated a stock buyback program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's management believes its stock is undervalued.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.31%. Huntington Bancshares's dividend payout ratio (DPR) is 47.33%.
Insiders Place Their Bets
In other news, insider Kendall A. Kowalski sold 25,419 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $13.68, for a total value of $347,731.92. Following the transaction, the insider now directly owns 70,281 shares in the company, valued at $961,444.08. This trade represents a 26.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the sale, the vice president now owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,617 shares of company stock valued at $2,942,892. Company insiders own 0.89% of the company's stock.
Hedge Funds Weigh In On Huntington Bancshares
Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Huntington Bancshares during the fourth quarter valued at approximately $302,826,000. Raymond James Financial Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at $150,444,000. FMR LLC increased its stake in shares of Huntington Bancshares by 36.9% in the 4th quarter. FMR LLC now owns 32,479,039 shares of the bank's stock worth $528,434,000 after purchasing an additional 8,759,871 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Huntington Bancshares by 126.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,048,773 shares of the bank's stock worth $114,684,000 after purchasing an additional 3,938,769 shares during the period. Finally, Amundi lifted its position in Huntington Bancshares by 26.7% during the fourth quarter. Amundi now owns 17,435,207 shares of the bank's stock valued at $286,460,000 after purchasing an additional 3,671,235 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.
About Huntington Bancshares
(
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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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