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

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.56.

HBAN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Monday, December 23rd. Piper Sandler increased their price target on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. HB Wealth Management LLC raised its position in Huntington Bancshares by 6.5% in the 2nd quarter. HB Wealth Management LLC now owns 28,931 shares of the bank’s stock worth $381,000 after purchasing an additional 1,777 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of Huntington Bancshares by 70.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 30,627 shares of the bank’s stock valued at $404,000 after acquiring an additional 12,697 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Huntington Bancshares by 20.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 799,804 shares of the bank’s stock valued at $10,541,000 after acquiring an additional 133,550 shares during the period. UMB Bank n.a. grew its position in Huntington Bancshares by 409.6% during the 2nd quarter. UMB Bank n.a. now owns 3,817 shares of the bank’s stock worth $50,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Huntington Bancshares in the 2nd quarter worth approximately $1,046,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.27 on Thursday. The stock has a 50 day moving average of $16.94 and a 200 day moving average of $15.15. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the firm posted $0.36 EPS. As a group, sell-side analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.81%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

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.