Huntington Bancshares’ (HBAN) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note published on Tuesday,Benzinga reports. They currently have a $21.00 price objective on the bank’s stock.

HBAN has been the subject of several other reports. Truist Financial raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Stephens dropped their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Friday, July 24th. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Thursday, April 23rd. Finally, Robert W. Baird lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.24.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.01 on Tuesday. The company has a 50 day simple moving average of $17.61 and a two-hundred day simple moving average of $16.88. Huntington Bancshares has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a market capitalization of $34.37 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same period in the previous year, the firm posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Analysts expect that Huntington Bancshares will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.6%. Huntington Bancshares’s payout ratio is 48.06%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 27,971 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider owned 70,025 shares of the company’s stock, valued at $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 22,000 shares of company stock worth $401,219 and have sold 262,061 shares worth $4,549,432. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Huntington Bancshares in the 2nd quarter worth approximately $3,134,426,000. Wellington Management Group LLP raised its stake in Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after acquiring an additional 68,478,435 shares during the period. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $432,584,000. Bank of America Corp DE purchased a new position in Huntington Bancshares during the second quarter valued at approximately $256,772,000. Finally, Vanguard Group Inc. boosted its position 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 purchasing an additional 14,338,222 shares during the period. 80.72% of the stock is owned by institutional investors.

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.