Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price target hoisted by Truist Financial from $19.00 to $20.00 in a research report released on Tuesday morning, MarketBeat reports. They currently have a buy rating on the bank’s stock.

Other research analysts have also recently issued reports about the company. Evercore reissued an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Royal Bank Of Canada upped 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 Wednesday, July 1st. Robert W. Baird increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Barclays downgraded shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

Huntington Bancshares Trading Up 1.4%

Shares of HBAN opened at $17.08 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. The stock has a market cap of $34.51 billion, a PE ratio of 13.24, a PEG ratio of 0.80 and a beta of 0.93. Huntington Bancshares has a 1 year low of $14.89 and a 1 year high of $19.45. The stock has a 50 day simple moving average of $17.24 and a 200-day simple moving average of $16.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts predict that Huntington Bancshares will post 1.6 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the transaction, the executive vice president directly owned 267,859 shares of the company’s stock, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 22,000 shares of company stock valued at $401,219. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently modified their holdings of HBAN. Vanguard Group Inc. raised its position in Huntington Bancshares by 8.1% in the 4th 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 last quarter. State Street Corp boosted its position in Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after buying an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares during the period. Boston Partners increased its stake in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares during the period. Finally, Invesco Ltd. raised its position in shares of Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after acquiring an additional 3,908,927 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.