Huntington Bancshares Inc. (HBAN) Coverage Initiated at Wedbush
Research analysts at Wedbush initiated coverage on shares of Huntington Bancshares Inc. (NASDAQ:HBAN) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Other equities research analysts have also issued reports about the company. Nomura restated a “hold” rating on shares of Huntington Bancshares in a research report on Saturday, July 9th. Barclays PLC reiterated a “hold” rating on shares of Huntington Bancshares in a research report on Saturday, July 9th. Zacks Investment Research upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $10.50 price objective on shares of Huntington Bancshares in a research report on Thursday, June 9th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $10.50 price objective on shares of Huntington Bancshares in a research report on Monday, June 27th. Fourteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Huntington Bancshares currently has an average rating of “Hold” and an average price target of $11.08.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded up 0.20% on Thursday, hitting $10.16. The stock had a trading volume of 9,731,722 shares. The company has a market capitalization of $8.12 billion, a P/E ratio of 13.03 and a beta of 1.13. The firm has a 50 day moving average price of $9.79 and a 200 day moving average price of $9.68. Huntington Bancshares has a one year low of $7.83 and a one year high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same period in the prior year, the business earned $0.23 EPS. On average, equities research analysts predict that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, September 15th. Huntington Bancshares’s payout ratio is currently 35.90%.
In related news, EVP Nicholas G. Stanutz sold 35,350 shares of Huntington Bancshares stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $340,774.00. Following the completion of the transaction, the executive vice president now owns 434,650 shares in the company, valued at $4,190,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David S. Anderson sold 9,006 shares of Huntington Bancshares stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $9.82, for a total value of $88,438.92. Following the transaction, the executive vice president now owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Lumbard & Kellner LLC boosted its position in Huntington Bancshares by 3.3% in the first quarter. Lumbard & Kellner LLC now owns 232,825 shares of the company’s stock worth $2,221,000 after buying an additional 7,465 shares during the last quarter. Aviva PLC boosted its position in Huntington Bancshares by 0.9% in the first quarter. Aviva PLC now owns 408,710 shares of the company’s stock worth $3,899,000 after buying an additional 3,703 shares during the last quarter. Algebris Investments UK LLP acquired a new position in Huntington Bancshares during the first quarter worth approximately $4,283,000. ING Groep NV boosted its position in Huntington Bancshares by 1,137.7% in the first quarter. ING Groep NV now owns 1,931,233 shares of the company’s stock worth $18,405,000 after buying an additional 1,775,193 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Huntington Bancshares during the first quarter worth approximately $3,108,000. Institutional investors and hedge funds own 75.73% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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