Raymond James Reiterates "Strong-Buy" Rating for Huntington Bancshares (NASDAQ:HBAN)

Raymond James reiterated their strong-buy rating on shares of Huntington Bancshares (NASDAQ:HBAN - Free Report) in a research report released on Monday,Benzinga reports. They currently have a $18.00 price target on the bank's stock, down from their previous price target of $20.00.

Several other research firms also recently commented on HBAN. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Piper Sandler decreased their price objective on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. dropped their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Stephens reissued an "equal weight" rating and set a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.39.

Huntington Bancshares Stock Down 0.7 %

NASDAQ:HBAN traded down $0.11 during trading hours on Monday, reaching $14.45. The company had a trading volume of 797,168 shares, compared to its average volume of 17,263,808. Huntington Bancshares has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $21.10 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.33 and a beta of 0.89. The business's 50-day simple moving average is $14.65 and its two-hundred day simple moving average is $15.99.

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

Huntington Bancshares Announces Dividend

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. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.29%. Huntington Bancshares's payout ratio is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has approved a stock buyback program on Thursday, April 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the bank to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the transaction, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. This represents a 6.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,617 shares of company stock worth $2,942,892. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Capital Management Investments LLC boosted its stake in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock valued at $26,000 after purchasing an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Huntington Bancshares by 126.8% in the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock valued at $30,000 after acquiring an additional 1,023 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Huntington Bancshares by 516.3% during the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the period. Midwest Capital Advisors LLC purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $37,000. Finally, Transce3nd LLC purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $48,000. 80.72% of the stock is currently owned by institutional investors.

About Huntington Bancshares

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.