Huntington Bancshares (NASDAQ:HBAN) Sets New 12-Month High - What's Next?

Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.11 and last traded at $17.05, with a volume of 477256 shares trading hands. The stock had previously closed at $15.54.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their target price on Huntington Bancshares from $15.00 to $14.50 and set a "market perform" rating for the company in a research note on Tuesday, July 9th. Barclays boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Finally, Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.09.

Huntington Bancshares Price Performance

The stock's 50 day simple moving average is $14.93 and its 200-day simple moving average is $14.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $25.45 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.2 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 Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.54%. Huntington Bancshares's payout ratio is 59.62%.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HBAN. Boston Partners grew its holdings in shares of Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank's stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. Victory Capital Management Inc. grew its stake in Huntington Bancshares by 13.2% during the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock worth $298,682,000 after buying an additional 2,363,988 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank's stock worth $208,346,000 after buying an additional 561,565 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Huntington Bancshares by 9.5% in the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank's stock valued at $85,940,000 after acquiring an additional 566,015 shares during the period. Finally, abrdn plc boosted its holdings in shares of Huntington Bancshares by 3.9% in the third quarter. abrdn plc now owns 3,660,616 shares of the bank's stock valued at $53,976,000 after acquiring an additional 137,032 shares during the period. 80.72% of the stock is 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.