Morgan Stanley Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $16.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective boosted by Morgan Stanley from $15.00 to $16.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

HBAN has been the subject of several other research reports. Argus upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a buy rating in a research report on Monday. StockNews.com downgraded Huntington Bancshares from a hold rating to a sell rating in a research note on Wednesday, June 19th. Jefferies Financial Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $15.00 to $14.50 and set a market perform rating for the company in a research note on Tuesday, July 9th. Finally, Piper Sandler boosted their target price on Huntington Bancshares from $11.50 to $13.50 and gave the stock an underweight rating in a research note on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $15.50.

Huntington Bancshares Trading Up 0.9 %

HBAN opened at $15.06 on Monday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $15.24. The company has a 50-day simple moving average of $13.43 and a 200 day simple moving average of $13.29. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.08 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $0.35 earnings per share. Analysts predict that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Activity

In other Huntington Bancshares news, VP Rajeev Syal sold 11,627 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the sale, the vice president now owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rajeev Syal sold 11,627 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the sale, the vice president now directly owns 329,607 shares of the company’s stock, valued at approximately $4,505,727.69. The disclosure for this sale can be found here. Insiders sold 152,418 shares of company stock valued at $2,214,979 over the last quarter. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Wetzel Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the 4th quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. Nemes Rush Group LLC boosted its holdings in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $30,000. Finally, Planned Solutions Inc. bought a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.