Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $17.56.

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. DA Davidson boosted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th.

Huntington Bancshares Stock Performance

Shares of HBAN traded up $0.06 during mid-day trading on Thursday, reaching $16.52. The company's stock had a trading volume of 5,175,506 shares, compared to its average volume of 15,835,172. Huntington Bancshares has a 1-year low of $12.02 and a 1-year high of $18.44. The stock has a market cap of $24.00 billion, a P/E ratio of 15.88, a PEG ratio of 3.47 and a beta of 1.06. The business has a 50-day simple moving average of $16.85 and a two-hundred day simple moving average of $15.02. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio is currently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares of the company's stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. FMR LLC increased its holdings in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock valued at $348,672,000 after purchasing an additional 3,410,597 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after acquiring an additional 2,363,988 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank's stock valued at $42,226,000 after acquiring an additional 2,116,839 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after acquiring an additional 1,522,767 shares during the period. 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.