Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Has Consensus Price Target of $18.98 According to Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have received a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.98.

Several research analysts have recently commented on the stock. Evercore decreased their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, September 18th. DA Davidson dropped their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. Wolfe Research lowered shares of Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, October 27th. TD Cowen initiated coverage on shares of Huntington Bancshares in a report on Thursday, October 8th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Robert W. Baird decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd.

Insider Buying and Selling

In related news, Director James Rollins, III purchased 14,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were acquired at an average price of $18.12 per share, with a total value of $253,680.00. Following the acquisition, the director owned 15,500 shares in the company, valued at approximately $280,860. This trade represents a 933.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Torgow purchased 12,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The stock was bought at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the acquisition, the director owned 956,041 shares in the company, valued at approximately $15,038,524.93. The trade was a 1.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of HBAN. BlackRock Inc. acquired a new stake in Huntington Bancshares during the second quarter valued at approximately $3,134,426,000. Dimensional Fund Advisors LP grew its position in Huntington Bancshares by 27.2% in the first quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock worth $367,388,000 after buying an additional 5,026,894 shares during the last quarter. Amundi grew its position in Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock worth $305,215,000 after buying an additional 4,578,566 shares during the last quarter. Bank of America Corp DE acquired a new position in Huntington Bancshares in the second quarter worth approximately $256,772,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Huntington Bancshares by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank’s stock valued at $206,339,000 after buying an additional 1,993,618 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.86 on Friday. The company has a market cap of $32.04 billion, a PE ratio of 13.11, a P/E/G ratio of 1.03 and a beta of 0.97. The company has a fifty day moving average price of $15.92 and a two-hundred day moving average price of $16.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. Huntington Bancshares has a 12 month low of $14.82 and a 12 month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Research analysts expect that Huntington Bancshares will post 1.54 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be given a dividend of $0.1550 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 51.24%.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.