Huntington Bancshares Inc. (HBAN) Price Target Raised to $15.00
Huntington Bancshares Inc. (NASDAQ:HBAN) had its price target lifted by investment analysts at Deutsche Bank AG from $12.00 to $15.00 in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s price objective suggests a potential upside of 20.39% from the company’s current price.
HBAN has been the topic of several other reports. Macquarie raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and increased their price target for the company from $12.44 to $14.00 in a research note on Tuesday, November 22nd. Jefferies Group reissued a “buy” rating on shares of Huntington Bancshares in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. FBR & Co cut shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $11.00 price target on the stock. in a research note on Tuesday, October 11th. Finally, Wedbush began coverage on shares of Huntington Bancshares in a research note on Thursday, October 6th. They set an “outperform” rating and a $12.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.65.
Huntington Bancshares (NASDAQ:HBAN) traded up 1.47% during trading on Wednesday, reaching $12.46. 17,092,633 shares of the company’s stock traded hands. Huntington Bancshares has a 12 month low of $7.83 and a 12 month high of $12.68. The firm’s 50 day moving average is $10.90 and its 200 day moving average is $9.95. The company has a market cap of $13.52 billion, a P/E ratio of 17.60 and a beta of 1.16.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same quarter in the previous year, the company earned $0.18 EPS. Analysts anticipate that Huntington Bancshares will post $0.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Tuesday, December 20th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, December 16th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.07. Huntington Bancshares’s dividend payout ratio (DPR) is 39.44%.
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In other news, EVP Nicholas G. Stanutz sold 25,000 shares of Huntington Bancshares stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $11.54, for a total value of $288,500.00. Following the completion of the transaction, the executive vice president now owns 416,511 shares of the company’s stock, valued at approximately $4,806,536.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Helga Houston sold 8,378 shares of Huntington Bancshares stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $12.33, for a total transaction of $103,300.74. Following the completion of the transaction, the insider now directly owns 311,219 shares of the company’s stock, valued at approximately $3,837,330.27. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in shares of Huntington Bancshares by 51.6% in the first quarter. Envestnet Asset Management Inc. now owns 154,042 shares of the company’s stock worth $1,470,000 after buying an additional 52,425 shares during the period. Babson Capital Management LLC increased its position in shares of Huntington Bancshares by 109.4% in the first quarter. Babson Capital Management LLC now owns 85,181 shares of the company’s stock worth $813,000 after buying an additional 44,500 shares during the period. Arizona State Retirement System increased its position in shares of Huntington Bancshares by 2.2% in the first quarter. Arizona State Retirement System now owns 215,566 shares of the company’s stock worth $2,056,000 after buying an additional 4,700 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Huntington Bancshares by 86.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 61,353 shares of the company’s stock worth $584,000 after buying an additional 28,404 shares during the period. Finally, Fulton Bank N.A. increased its position in shares of Huntington Bancshares by 9.9% in the second quarter. Fulton Bank N.A. now owns 16,819 shares of the company’s stock worth $150,000 after buying an additional 1,513 shares during the period. 68.80% of the stock is owned by institutional investors.
About Huntington Bancshares
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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