Citigroup Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its target price reduced by Citigroup from $20.00 to $18.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the bank's stock.

A number of other research analysts also recently issued reports on HBAN. Stephens reaffirmed an "equal weight" rating and set a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research note on Tuesday, January 21st. Truist Financial increased their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.18.

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Huntington Bancshares Stock Down 0.2 %

NASDAQ:HBAN traded down $0.03 on Monday, reaching $15.32. 17,940,982 shares of the stock traded hands, compared to its average volume of 16,360,270. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.33 and a beta of 1.07. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.45. The company's fifty day simple moving average is $16.18 and its 200 day simple moving average is $16.14.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.05%. Huntington Bancshares's dividend payout ratio (DPR) is currently 50.41%.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HBAN. Carlson Capital Management lifted its holdings in shares of Huntington Bancshares by 0.4% in the 4th 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 stake 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 purchasing an additional 699 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of 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 buying an additional 702 shares during the period. CreativeOne Wealth LLC grew its stake in shares of Huntington Bancshares by 4.0% during the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock valued at $326,000 after buying an additional 762 shares during the last quarter. Finally, Lantz Financial LLC raised its holdings in shares of Huntington Bancshares by 6.1% in the fourth quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after buying an additional 790 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.