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.

Huntington Bancshares Price Performance

HBAN Stock opened at $14.35 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.50. Huntington Bancshares has a 12 month low of $11.67 and a 12 month high of $17.79. The firm has a market cap of $20.70 billion, a P/E ratio of 12.81 and a beta of 1.20. The company's 50-day moving average price is $12.76 and its two-hundred day moving average price is $13.88.

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

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, September 16th. Huntington Bancshares's dividend payout ratio (DPR) is presently 55.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HBAN shares. Piper Sandler downgraded shares of Huntington Bancshares from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $14.00 to $13.50 in a research report on Friday, July 8th. StockNews.com raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Huntington Bancshares from $17.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, May 31st. Stephens raised shares of Huntington Bancshares from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $16.00 to $17.00 in a research report on Monday, April 25th. Finally, Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares presently has an average rating of "Hold" and an average target price of $15.11.

Insider Activity at Huntington Bancshares

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