Huntington Bancshares (NASDAQ:HBAN) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a sell rating to a hold rating in a research note released on Monday morning.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an overweight rating for the company in a research note on Thursday, June 27th. Stephens reiterated an equal weight rating and issued a $15.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. Baird R W cut Huntington Bancshares from a strong-buy rating to a hold rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods decreased their price target 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $15.47.

Huntington Bancshares Trading Down 1.3 %

Shares of NASDAQ:HBAN opened at $14.95 on Monday. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. 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 company has a market cap of $21.67 billion, a PE ratio of 13.47, a P/E/G ratio of 3.07 and a beta of 1.06. The company’s 50-day moving average price is $13.51 and its 200 day moving average price is $13.36.

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

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.15%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the transaction, the insider now owns 65,195 shares in the company, valued at $902,298.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The disclosure for this sale can be found here. Insiders have sold a total of 139,611 shares of company stock valued at $2,079,617 in the last three months. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of HBAN. WealthShield Partners LLC increased its position 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 during the last quarter. Summit Financial Strategies Inc. lifted its stake in 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 acquiring an additional 762 shares during the last quarter. State of Alaska Department of Revenue grew its position 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 acquiring an additional 780 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares during the last quarter. Finally, TCW Group Inc. raised its holdings in shares of Huntington Bancshares by 4.1% during the 2nd quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock valued at $267,000 after purchasing 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.