Piper Jaffray Companies reissued their buy rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note issued to investors on Tuesday, January 9th. They currently have a $17.00 price target on the bank’s stock.
Other analysts have also recently issued reports about the company. BMO Capital Markets cut Huntington Bancshares from an outperform rating to a market perform rating and set a $16.00 price objective for the company. in a report on Thursday, October 26th. Barclays boosted their price objective on Huntington Bancshares from $14.00 to $17.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a hold rating and set a $16.25 price objective on shares of Huntington Bancshares in a report on Friday, December 22nd. FBR & Co reissued a hold rating and set a $14.00 price objective on shares of Huntington Bancshares in a report on Thursday, October 26th. Finally, Vining Sparks reaffirmed a buy rating and issued a $19.00 price target on shares of Huntington Bancshares in a research note on Monday, January 8th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Huntington Bancshares has an average rating of Buy and an average price target of $16.31.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded up $0.08 during trading hours on Tuesday, hitting $15.76. 9,984,619 shares of the stock traded hands, compared to its average volume of 9,600,000. Huntington Bancshares has a 52 week low of $12.14 and a 52 week high of $16.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $17,040.00, a P/E ratio of 18.99, a PEG ratio of 1.24 and a beta of 1.33.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.79%. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, December 15th. Huntington Bancshares’s dividend payout ratio is presently 38.55%.
In other news, EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the completion of the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Helga Houston sold 14,513 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the sale, the insider now directly owns 499,824 shares of the company’s stock, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its holdings in Huntington Bancshares by 99,812.5% during the 2nd quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after purchasing an additional 7,985 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Huntington Bancshares during the 2nd quarter valued at $139,000. Alpha Cubed Investments LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $151,000. ClariVest Asset Management LLC lifted its holdings in Huntington Bancshares by 53.4% during the 3rd quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock valued at $156,000 after purchasing an additional 3,900 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Huntington Bancshares by 171.7% during the 2nd quarter. D.A. Davidson & CO. now owns 13,800 shares of the bank’s stock valued at $186,000 after purchasing an additional 8,720 shares during the last quarter. 73.70% of the stock is owned by institutional investors.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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