Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating)’s share price gapped down before the market opened on Friday after Piper Sandler lowered their price target on the stock from $15.00 to $14.50. The stock had previously closed at $13.74, but opened at $13.24. Huntington Bancshares shares last traded at $12.77, with a volume of 4,233,437 shares changing hands.
Other research analysts have also issued reports about the stock. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, February 7th. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Wolfe Research raised their target price on shares of Huntington Bancshares from $13.00 to $14.00 in a research note on Thursday, December 1st. JPMorgan Chase & Co. lowered shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $15.50 to $14.50 in a research note on Tuesday, December 13th. Finally, DA Davidson initiated coverage on shares of Huntington Bancshares in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $15.00 target price on the stock. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.60.
Insider Activity
In other news, Director David L. Porteous sold 80,000 shares of Huntington Bancshares stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the sale, the director now directly owns 62,845 shares in the company, valued at approximately $943,303.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.
Hedge Funds Weigh In On Huntington Bancshares
Institutional investors have recently added to or reduced their stakes in the company. CI Investments Inc. lifted its holdings in Huntington Bancshares by 994.3% during the 3rd quarter. CI Investments Inc. now owns 1,904 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,730 shares during the last quarter. Allworth Financial LP lifted its holdings in Huntington Bancshares by 91.9% during the 3rd quarter. Allworth Financial LP now owns 1,998 shares of the bank’s stock valued at $26,000 after purchasing an additional 957 shares during the last quarter. Archer Investment Corp bought a new position in Huntington Bancshares during the 4th quarter valued at about $27,000. Retirement Financial Solutions LLC bought a new position in Huntington Bancshares during the 4th quarter valued at about $28,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Huntington Bancshares by 149.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,573 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,543 shares during the last quarter. 80.43% of the stock is owned by institutional investors.
Huntington Bancshares Stock Down 6.2 %
The stock has a market capitalization of $18.60 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.30 and a beta of 1.11. The firm’s fifty day moving average is $14.86 and its 200-day moving average is $14.43. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62.
Huntington Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, March 17th. Huntington Bancshares’s dividend payout ratio is presently 42.76%.
Huntington Bancshares Company Profile
Huntington Bancshares, Inc operates as a bank holding company. It 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, other financial products and services.
