Stephens Reaffirms Equal Weight Rating for Huntington Bancshares (NASDAQ:HBAN)

Stephens reissued their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN - Free Report) in a report published on Monday,Benzinga reports. Stephens currently has a $16.50 price target on the bank's stock.

HBAN has been the topic of a number of other research reports. Piper Sandler lowered their target price on Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a report on Tuesday, January 21st. Robert W. Baird upgraded shares of Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price for the company in a research report on Friday, March 7th. Baird R W upgraded shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Barclays boosted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Finally, Citigroup decreased their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.45.

Huntington Bancshares Stock Down 1.0 %

Shares of HBAN stock traded down $0.15 during mid-day trading on Monday, hitting $14.40. The company's stock had a trading volume of 17,839,315 shares, compared to its average volume of 17,340,108. Huntington Bancshares has a 52-week low of $11.92 and a 52-week high of $18.45. The business has a 50-day moving average price of $14.60 and a 200 day moving average price of $15.99. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

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

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.

Huntington Bancshares announced that its Board of Directors has approved a stock repurchase program on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Kendall A. Kowalski sold 25,419 shares of the company's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total transaction of $347,731.92. Following the sale, the insider now owns 70,281 shares of the company's stock, valued at $961,444.08. This represents a 26.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the transaction, the vice president now owns 326,456 shares of the company's stock, valued at $4,469,182.64. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,617 shares of company stock worth $2,942,892 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in the business. Carlson Capital Management increased its stake in Huntington Bancshares by 0.4% during the fourth quarter. Carlson Capital Management now owns 163,575 shares of the bank's stock worth $2,661,000 after acquiring an additional 692 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Huntington Bancshares by 6.0% in the fourth quarter. Farther Finance Advisors LLC now owns 12,317 shares of the bank's stock worth $200,000 after buying an additional 699 shares during the last quarter. Venturi Wealth Management LLC increased its position in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank's stock valued at $53,000 after acquiring an additional 702 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Huntington Bancshares by 4.0% in the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after acquiring an additional 762 shares during the period. Finally, Lantz Financial LLC lifted its holdings in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after acquiring an additional 790 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other 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.