The Goldman Sachs Group Raises Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its price target increased by The Goldman Sachs Group from $16.25 to $20.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the bank's stock.

A number of other equities analysts also recently commented on HBAN. Barclays boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Morgan Stanley upped their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Evercore ISI raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a "buy" rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.62.

Huntington Bancshares Stock Down 0.3 %

Shares of HBAN stock traded down $0.06 during mid-day trading on Tuesday, hitting $18.14. The stock had a trading volume of 9,102,633 shares, compared to its average volume of 16,041,771. The firm has a market capitalization of $26.35 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a 12-month low of $10.73 and a 12-month high of $18.44. The firm's 50-day moving average is $15.79 and its two-hundred day moving average is $14.50.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the prior year, the business earned $0.36 EPS. On average, analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio is currently 59.62%.

Insider Buying and Selling at Huntington Bancshares

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 transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company's stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company's stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. WealthShield Partners LLC increased its stake in Huntington Bancshares by 5.9% during the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank's stock worth $163,000 after buying an additional 683 shares in the last quarter. UMB Bank n.a. lifted its holdings in Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock valued at $67,000 after purchasing an additional 728 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank's stock worth $312,000 after purchasing an additional 744 shares during the last quarter. Summit Financial Strategies Inc. raised its position in shares of Huntington Bancshares by 2.5% in the second 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 during the last quarter. Finally, TCW Group Inc. lifted its stake in shares of Huntington Bancshares by 4.1% in the second quarter. TCW Group Inc. now owns 20,235 shares of the bank's stock worth $267,000 after buying an additional 794 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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.