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.
Analysts Set New Price Targets
Several brokerages have recently commented on HBAN. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, April 22nd. Wolfe Research downgraded Huntington Bancshares from a "peer perform" rating to an "underperform" rating and dropped their target price for the company from $15.00 to $11.00 in a report on Thursday, May 26th. Morgan Stanley decreased their price target on shares of Huntington Bancshares from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, July 12th. Keefe, Bruyette & Woods lowered shares of Huntington Bancshares from a "market perform" rating to an "underperform" rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Thursday, June 2nd. Finally, Raymond James decreased their target price on shares of Huntington Bancshares from $18.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $15.11.
Huntington Bancshares Price Performance
Shares of NASDAQ:HBAN remained flat at $14.33 during trading hours on Thursday. The company had a trading volume of 7,477,392 shares, compared to its average volume of 12,730,672. The firm has a fifty day moving average of $12.80 and a 200-day moving average of $13.86. Huntington Bancshares has a fifty-two week low of $11.67 and a fifty-two week high of $17.79. The stock has a market cap of $20.67 billion, a PE ratio of 12.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.81.
Huntington Bancshares (NASDAQ:HBAN - Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The bank reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the firm earned $0.35 earnings per share. On average, research analysts expect that Huntington Bancshares will post 1.46 earnings per share for the current year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, September 16th. Huntington Bancshares's dividend payout ratio is currently 55.36%.
Insider Activity at Huntington Bancshares
In related news, CFO Zachary Jacob Wasserman sold 11,618 shares of the business's stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $14.36, for a total transaction of $166,834.48. Following the transaction, the chief financial officer now directly owns 230,394 shares in the company, valued at $3,308,457.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 11,618 shares of Huntington Bancshares stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the sale, the chief financial officer now owns 230,394 shares in the company, valued at $3,308,457.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Torgow purchased 19,382 shares of the stock in a transaction on Wednesday, July 27th. The stock was acquired at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the acquisition, the director now directly owns 893,301 shares in the company, valued at $11,523,582.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 45,240 shares of company stock worth $629,537. Company insiders own 0.72% of the company's stock.
