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

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nineteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.76.

A number of brokerages have issued reports on HBAN. Barclays lifted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. StockNews.com upgraded Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Truist Financial initiated coverage on shares of Huntington Bancshares in a research note on Tuesday, January 7th. They issued a "buy" rating and a $19.00 price target on the stock. Citigroup boosted their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd.

Huntington Bancshares Stock Up 1.0 %

NASDAQ:HBAN traded up $0.17 during midday trading on Monday, reaching $17.01. The company had a trading volume of 31,298,513 shares, compared to its average volume of 13,238,144. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.51 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock's fifty day simple moving average is $17.06 and its 200-day simple moving average is $15.49.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company earned $0.27 earnings per share. On average, sell-side analysts anticipate that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.64%. Huntington Bancshares's dividend payout ratio (DPR) is 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arvest Bank Trust Division purchased a new position in Huntington Bancshares in the 3rd quarter valued at approximately $2,381,000. Heritage Wealth Management Inc. acquired a new position in shares of Huntington Bancshares during the 2nd quarter worth $744,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank's stock worth $12,414,000 after buying an additional 44,662 shares in the last quarter. Petiole USA ltd acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $3,454,000. Finally, Franklin Resources Inc. increased its holdings in Huntington Bancshares by 3.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank's stock valued at $27,901,000 after acquiring an additional 55,602 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.