Huntington Bancshares (NASDAQ:HBAN) Given New $19.00 Price Target at Truist Financial

Huntington Bancshares (NASDAQ:HBAN) had its price target cut by Truist Financial from $21.00 to $19.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Several other brokerages have also commented on HBAN. Zacks Research lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. UBS Group set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Morgan Stanley raised their price objective on shares of Huntington Bancshares from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, National Bank Financial set a $21.00 target price on Huntington Bancshares in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

Huntington Bancshares Trading Down 1.7%

NASDAQ HBAN opened at $15.21 on Friday. The stock has a market cap of $30.87 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.63 and a beta of 0.95. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $19.45. The stock has a 50 day simple moving average of $17.53 and a two-hundred day simple moving average of $17.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company earned $0.34 EPS. On average, analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.1%. Huntington Bancshares’s payout ratio is presently 44.60%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Torgow bought 14,200 shares of the stock in a transaction dated Thursday, February 19th. The shares were acquired at an average price of $17.81 per share, with a total value of $252,902.00. Following the completion of the acquisition, the director directly owned 943,341 shares of the company’s stock, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 27,700 shares of company stock valued at $540,401 and have sold 33,285 shares valued at $627,009. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HBAN. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. State Street Corp raised its position in shares of Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock worth $1,351,806,000 after purchasing an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares during the last quarter. Boston Partners boosted its stake in Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. grew its position in Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after purchasing an additional 3,908,927 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.