Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $17.00 at Piper Sandler

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its price objective lowered by Piper Sandler from $17.50 to $17.00 in a research note released on Tuesday,Benzinga reports. Piper Sandler currently has an underweight rating on the bank's stock.

Several other research analysts have also weighed in on the company. Evercore ISI upped their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Citigroup upped their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Barclays raised their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, Truist Financial lifted their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Trading Up 0.5 %

HBAN stock traded up $0.09 during mid-day trading on Tuesday, reaching $17.10. 22,133,511 shares of the stock traded hands, compared to its average volume of 18,977,895. Huntington Bancshares has a 52-week low of $12.05 and a 52-week high of $18.44. The stock's fifty day moving average is $17.04 and its 200-day moving average is $15.54. The company has a market cap of $24.84 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.65 and a beta of 1.07. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the business posted $0.27 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares will post 1.36 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares's payout ratio is 50.41%.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC lifted its position in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock worth $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares in the third quarter valued at about $32,000. Finally, UMB Bank n.a. raised its position in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock worth $67,000 after purchasing an additional 728 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

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.