Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $19.00 at Truist Financial

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its price objective hoisted by Truist Financial from $18.00 to $19.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the bank's stock.

HBAN has been the topic of a number of other research reports. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective on the stock in a report on Friday, March 7th. Stephens restated an "equal weight" rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Monday, April 21st. Morgan Stanley dropped their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Raymond James restated a "strong-buy" rating and issued a $18.00 price objective (down previously from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Jefferies Financial Group assumed coverage on Huntington Bancshares in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of "Moderate Buy" and a consensus price target of $18.08.

Huntington Bancshares Stock Down 2.8%

HBAN traded down $0.45 during trading on Friday, reaching $15.51. 36,224,860 shares of the stock traded hands, compared to its average volume of 18,601,267. The stock's 50-day simple moving average is $14.96 and its two-hundred day simple moving average is $15.78. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a fifty-two week low of $11.92 and a fifty-two week high of $18.45. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, equities research analysts expect that Huntington Bancshares will post 1.39 EPS for the current year.

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

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 42,345 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $14.72, for a total transaction of $623,318.40. Following the transaction, the insider now owns 592,119 shares in the company, valued at $8,715,991.68. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kendall A. Kowalski sold 3,434 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $14.50, for a total value of $49,793.00. Following the sale, the insider now directly owns 66,847 shares of the company's stock, valued at approximately $969,281.50. The trade was a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,917 shares of company stock valued at $2,897,659. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several large investors have recently made changes to their positions in HBAN. First Hawaiian Bank increased its position in Huntington Bancshares by 42.3% during the first quarter. First Hawaiian Bank now owns 47,324 shares of the bank's stock worth $710,000 after acquiring an additional 14,062 shares during the period. Strs Ohio bought a new position in Huntington Bancshares during the first quarter worth about $29,673,000. Jacobi Capital Management LLC increased its position in Huntington Bancshares by 9.5% during the first quarter. Jacobi Capital Management LLC now owns 25,922 shares of the bank's stock worth $389,000 after acquiring an additional 2,243 shares during the period. IFM Investors Pty Ltd increased its position in Huntington Bancshares by 5.7% during the first quarter. IFM Investors Pty Ltd now owns 290,815 shares of the bank's stock worth $4,365,000 after acquiring an additional 15,597 shares during the period. Finally, Belpointe Asset Management LLC increased its position in Huntington Bancshares by 17.6% during the first quarter. Belpointe Asset Management LLC now owns 14,294 shares of the bank's stock worth $215,000 after acquiring an additional 2,136 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Company Profile

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.