Royal Bank of Canada Reiterates Outperform Rating for Huntington Bancshares (NASDAQ:HBAN)

Royal Bank of Canada reissued their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN - Free Report) in a research note released on Monday,Benzinga reports. The brokerage currently has a $20.00 price objective on the bank's stock.

Other equities research analysts also recently issued reports about 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 note on Tuesday, December 3rd. Barclays increased their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Citigroup lifted their price objective on Huntington Bancshares from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. DA Davidson increased their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, Evercore ISI boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $17.41.

Huntington Bancshares Trading Down 0.2 %

NASDAQ:HBAN traded down $0.04 during trading hours on Monday, hitting $16.28. 13,190,517 shares of the stock were exchanged, compared to its average volume of 15,921,912. The company has a market capitalization of $23.65 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company's 50 day moving average is $16.80 and its two-hundred day moving average is $14.96. Huntington Bancshares has a twelve month low of $12.02 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.36 earnings per share. On average, sell-side analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

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 given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.81%. Huntington Bancshares's dividend payout ratio is currently 59.62%.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company's stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Asset Dedication LLC boosted its holdings in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares during the third quarter worth $29,000. Hazlett Burt & Watson Inc. lifted its stake in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock valued at $30,000 after acquiring an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $31,000. Finally, Fortitude Family Office LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $32,000. 80.72% of the stock is 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.