Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $19.00

Huntington Bancshares (NASDAQ:HBAN) had its price target raised by Barclays from $17.00 to $19.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

A number of other equities analysts also recently weighed in on the company. Citigroup upped their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Monday, December 23rd. Piper Sandler upped their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.76.

Huntington Bancshares Stock Down 0.7 %

Shares of NASDAQ:HBAN opened at $16.43 on Monday. The firm has a 50 day simple moving average of $17.02 and a 200 day simple moving average of $15.29. Huntington Bancshares has a 52 week low of $12.02 and a 52 week high of $18.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $23.87 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, research analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.77%. Huntington Bancshares’s payout ratio is presently 59.62%.

Insiders Place Their Bets

In other news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 in the last quarter. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently bought and sold shares of the stock. Arvest Bank Trust Division bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $2,381,000. Heritage Wealth Management Inc. acquired a new stake in Huntington Bancshares during the second quarter worth about $744,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the period. Petiole USA ltd acquired a new position in Huntington Bancshares in the 3rd quarter valued at approximately $3,454,000. Finally, Franklin Resources Inc. lifted its position in shares of Huntington Bancshares by 3.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after acquiring an additional 55,602 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.