Huntington Bancshares Incorporated (NASDAQ:HBAN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $20.05.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a report on Thursday, April 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. DA Davidson cut their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Finally, Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the transaction, the vice president directly owned 481,676 shares in the company, valued at $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 39,200 shares of company stock valued at $756,724 over the last ninety days. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HBAN. MV Capital Management Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. lifted its holdings in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares in the last quarter. Centennial Bank AR bought a new position in shares of Huntington Bancshares during the fourth quarter valued at about $28,000. Finally, Accredited Wealth Management LLC lifted its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.0%

Shares of NASDAQ HBAN opened at $15.51 on Friday. The firm has a market cap of $31.44 billion, a PE ratio of 11.93, a P/E/G ratio of 0.71 and a beta of 0.96. Huntington Bancshares has a 12-month low of $14.89 and a 12-month high of $19.45. The company’s fifty day simple moving average is $16.04 and its 200 day simple moving average is $16.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts forecast that Huntington Bancshares will post 1.62 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.69%.

About Huntington Bancshares

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.