Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.94.

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Truist Financial upped their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Barclays increased their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th.

Huntington Bancshares Price Performance

HBAN traded up $1.22 during midday trading on Friday, reaching $13.71. 31,307,006 shares of the company's stock were exchanged, compared to its average volume of 17,254,711. Huntington Bancshares has a 1-year low of $11.92 and a 1-year high of $18.45. The stock has a market capitalization of $20.03 billion, a PE ratio of 11.15, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The business's 50-day moving average price is $15.37 and its 200 day moving average price is $16.07.

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Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, equities analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a $0.155 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.52%. Huntington Bancshares's dividend payout ratio is currently 50.41%.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares of the company's stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares of the company's stock, valued at $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,781 shares of company stock worth $1,631,151 over the last quarter. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC lifted its stake in shares of Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank's stock worth $26,000 after acquiring an additional 1,578 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank's stock worth $30,000 after purchasing an additional 1,023 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at approximately $37,000. Transce3nd LLC purchased a new position in shares of Huntington Bancshares during the 4th quarter valued at approximately $48,000. Finally, Asset Dedication LLC grew its position in shares of Huntington Bancshares by 70.0% during the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank's stock worth $50,000 after buying an additional 1,260 shares in the last quarter. 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.