Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Free Report) gapped down before the market opened on Friday after Piper Sandler lowered their price target on the stock from $12.50 to $12.00. The stock had previously closed at $10.86, but opened at $10.61. Huntington Bancshares shares last traded at $10.66, with a volume of 1,830,817 shares changing hands.
A number of other research analysts have also recently commented on HBAN. JPMorgan Chase & Co. upgraded shares of Huntington Bancshares from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $13.00 in a report on Tuesday, July 25th. Raymond James lifted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Monday, July 24th. StockNews.com initiated coverage on Huntington Bancshares in a research report on Thursday, August 17th. They set a “sell” rating on the stock. The Goldman Sachs Group increased their target price on shares of Huntington Bancshares from $12.00 to $13.50 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price target on shares of Huntington Bancshares in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has a consensus rating of “Hold” and an average target price of $13.13.
Insider Buying and Selling at Huntington Bancshares
In other news, EVP Paul G. Heller sold 23,817 shares of Huntington Bancshares stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $11.89, for a total transaction of $283,184.13. Following the completion of the sale, the executive vice president now directly owns 505,910 shares in the company, valued at $6,015,269.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, EVP Paul G. Heller sold 23,817 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $11.89, for a total transaction of $283,184.13. Following the sale, the executive vice president now owns 505,910 shares in the company, valued at approximately $6,015,269.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Helga Houston sold 12,280 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $11.97, for a total value of $146,991.60. Following the completion of the transaction, the insider now owns 594,564 shares of the company’s stock, valued at $7,116,931.08. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Institutional Trading of Huntington Bancshares
A number of hedge funds and other institutional investors have recently made changes to their positions in HBAN. Vanguard Group Inc. grew its position in Huntington Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank’s stock worth $2,380,062,000 after purchasing an additional 2,353,575 shares during the period. BlackRock Inc. raised its position in Huntington Bancshares by 0.5% during the first quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock valued at $1,540,965,000 after acquiring an additional 652,310 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Huntington Bancshares by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,907,624 shares of the bank’s stock valued at $1,070,297,000 after acquiring an additional 3,618,731 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Huntington Bancshares by 4.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,499,256 shares of the bank’s stock worth $482,164,000 after purchasing an additional 1,771,107 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Huntington Bancshares by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 32,460,677 shares of the bank’s stock worth $349,061,000 after purchasing an additional 639,702 shares during the period. Institutional investors and hedge funds own 78.68% of the company’s stock.
Huntington Bancshares Stock Performance
The firm’s fifty day moving average price is $11.43 and its two-hundred day moving average price is $11.26. The stock has a market capitalization of $15.43 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 5.91 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its earnings results on Friday, July 21st. The bank reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Huntington Bancshares had a net margin of 24.74% and a return on equity of 15.20%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.38 EPS for the current year.
Huntington Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s payout ratio is presently 40.00%.
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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).
