Huntington Bancshares - HBAN Stock Forecast, Price & News

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG). The Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, and consumer and small business loans, as well as investment products. This segment also provides mortgages, insurance, interest rate risk protection, foreign exchange, automated teller machine, and treasury management services, as well as online, mobile, and telephone banking services. It serves consumer and small business customers. The Commercial Banking segment offers regional commercial banking solutions for middle market businesses, government and public sector entities, and commercial real estate developers/REITs; and specialty banking solutions for healthcare, technology and telecommunications, franchise finance, sponsor finance, and global services industries. It also provides asset finance services; capital raising solutions, sales and trading, and corporate risk management products; institutional banking services; and treasury management services. The Vehicle Finance segment provides financing to consumers for the purchase of automobiles, light-duty trucks, recreational vehicles, and marine craft at franchised and other select dealerships, as well as to franchised dealerships for the acquisition of new and used inventory. The RBHPCG segment offers private banking, wealth and investment management, and retirement plan services. As of March 18, 2022, the company had approximately 1,000 branches in 11 states. Huntington Bancshares Incorporated was founded in 1866 and is headquartered in Columbus, Ohio.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HBAN shares. Wedbush cut Huntington Bancshares from an "outperform" rating to a "neutral" rating and set a $14.00 price objective on the stock. in a research report on Thursday, June 30th. Argus raised Huntington Bancshares from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Thursday, July 28th. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, April 22nd. Piper Sandler cut Huntington Bancshares from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $14.00 to $13.50 in a research report on Friday, July 8th. Finally, Jefferies Financial Group lowered their price target on Huntington Bancshares from $14.50 to $13.00 in a report on Monday, July 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.11.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN traded up $0.23 during midday trading on Thursday, hitting $14.19. The company had a trading volume of 12,779,241 shares, compared to its average volume of 12,901,168. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 12.46 and a beta of 1.20. Huntington Bancshares has a 12-month low of $11.67 and a 12-month high of $17.79. The company has a fifty day moving average of $12.74 and a two-hundred day moving average of $13.89.

Huntington Bancshares (NASDAQ:HBAN - Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The bank reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same period last year, the business posted $0.35 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post 1.46 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be paid a $0.155 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a yield of 4.37%. Huntington Bancshares's payout ratio is presently 55.36%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Gary Torgow purchased 19,382 shares of the business's stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the purchase, the director now owns 893,301 shares of the company's stock, valued at approximately $11,523,582.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Huntington Bancshares news, Director Gary Torgow purchased 19,382 shares of the business's stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the purchase, the director now owns 893,301 shares of the company's stock, valued at approximately $11,523,582.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 28,166 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $13.77, for a total transaction of $387,845.82. Following the transaction, the insider now directly owns 496,474 shares of the company's stock, valued at approximately $6,836,446.98. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.