Huntington Bancshares (NASDAQ:HBAN) Sets New 1-Year High at $14.30

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.30 and last traded at $14.27, with a volume of 21864439 shares trading hands. The stock had previously closed at $13.73.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HBAN. Morgan Stanley decreased their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Jefferies Financial Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Piper Sandler cut shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. Finally, UBS Group dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $14.93.

Huntington Bancshares Trading Up 3.9 %

The stock has a market cap of $20.68 billion, a PE ratio of 12.37, a PEG ratio of 5.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average price of $13.32 and a 200 day moving average price of $13.19.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the previous year, the firm earned $0.38 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post 1.17 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a dividend of $0.155 per share. The ex-dividend date was Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.34%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 7,278 shares of Huntington Bancshares 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 $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 157,829 shares of company stock worth $2,148,623 over the last quarter. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Huntington Bancshares by 26.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,649 shares of the bank’s stock valued at $1,761,000 after purchasing an additional 28,174 shares during the period. M&G Plc purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $920,000. Wedmont Private Capital raised its holdings in Huntington Bancshares by 65.8% in the 2nd quarter. Wedmont Private Capital now owns 23,652 shares of the bank’s stock worth $320,000 after purchasing an additional 9,390 shares during the period. Sequoia Financial Advisors LLC boosted its position in Huntington Bancshares by 0.6% during the second quarter. Sequoia Financial Advisors LLC now owns 580,146 shares of the bank’s stock worth $7,646,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Huntington Bancshares by 8.4% in the second quarter. Czech National Bank now owns 276,169 shares of the bank’s stock valued at $3,640,000 after buying an additional 21,336 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.