Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00 at Truist Financial

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its target price upped by Truist Financial from $19.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the bank's stock.

Several other research analysts have also recently weighed in on HBAN. StockNews.com upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Sandler O'Neill reiterated a "buy" rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Barclays boosted their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. 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 note on Monday, October 21st. Finally, Piper Sandler boosted their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Stock Performance

Huntington Bancshares 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. The stock has a market capitalization of $24.84 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The business's 50-day moving average is $17.04 and its 200-day moving average is $15.54. Huntington Bancshares has a 12-month low of $12.05 and a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS 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 last year, the company posted $0.27 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares will post 1.36 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at $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. Insiders have sold a total of 43,699 shares of company stock valued at $757,356 in the last quarter. 0.92% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. Lantz Financial LLC lifted its stake in shares of Huntington Bancshares by 6.1% during the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank's stock worth $224,000 after acquiring an additional 790 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Huntington Bancshares by 3.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 297,134 shares of the bank's stock worth $4,834,000 after purchasing an additional 10,191 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Huntington Bancshares by 10.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 280,709 shares of the bank's stock worth $4,567,000 after purchasing an additional 27,406 shares during the last quarter. CX Institutional boosted its stake in shares of Huntington Bancshares by 8.1% during the fourth quarter. CX Institutional now owns 19,192 shares of the bank's stock valued at $312,000 after purchasing an additional 1,444 shares during the period. Finally, McGlone Suttner Wealth Management Inc. grew its holdings in shares of Huntington Bancshares by 7.2% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 11,765 shares of the bank's stock worth $191,000 after purchasing an additional 795 shares during the last quarter. Hedge funds and other 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.