Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $18.00

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its target price lifted by Evercore ISI from $17.00 to $18.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the bank's stock.

A number of other research analysts also recently commented on HBAN. StockNews.com upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Citigroup boosted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Baird R W cut Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, July 3rd. Finally, Argus upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a "buy" rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $16.09.

Huntington Bancshares Stock Up 0.8 %

Shares of HBAN traded up $0.12 during midday trading on Wednesday, reaching $15.74. 8,539,099 shares of the company were exchanged, compared to its average volume of 16,051,477. The stock has a 50-day moving average price of $14.85 and a 200-day moving average price of $14.04. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 3.17 and a beta of 1.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a 1-year low of $9.49 and a 1-year high of $16.03.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share 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 the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the firm earned $0.36 earnings per share. Research analysts expect that Huntington Bancshares will post 1.2 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.94%. Huntington Bancshares's payout ratio is 59.62%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of the business's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company's stock, valued at approximately $8,615,217.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. WealthShield Partners LLC increased its stake in Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank's stock worth $163,000 after purchasing an additional 683 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Huntington Bancshares by 19.1% during the 3rd 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. Foundations Investment Advisors LLC lifted its holdings in shares of Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank's stock valued at $312,000 after buying an additional 744 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in shares of Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank's stock valued at $408,000 after buying an additional 762 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Huntington Bancshares by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank's stock worth $2,192,000 after buying an additional 780 shares during the last quarter. 80.72% of the stock is currently owned by 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.