Huntington Bancshares’ (HBAN) Neutral Rating Reiterated at Bank of America

Bank of America reissued their neutral rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $18.50 price target on the bank’s stock, down from their previous price target of $20.00.

A number of other equities research analysts also recently issued reports on HBAN. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wolfe Research decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Stephens cut their price target on Huntington Bancshares from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, July 24th. Robert W. Baird lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $16.84 on Monday. The company has a 50-day moving average price of $17.21 and a 200-day moving average price of $16.90. Huntington Bancshares has a 52 week low of $14.89 and a 52 week high of $19.45. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $34.14 billion, a P/E ratio of 13.05, a PEG ratio of 0.82 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Equities research analysts anticipate that Huntington Bancshares will post 1.6 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. Huntington Bancshares’s dividend payout ratio is 48.06%.

Insider Activity

In related news, Director James D. Rollins III sold 223,522 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 22,000 shares of company stock valued at $401,219 in the last quarter. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after buying an additional 104,965 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Huntington Bancshares by 688.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock valued at $1,500,000 after buying an additional 75,516 shares in the last quarter. Hsbc Holdings PLC increased its stake in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after acquiring an additional 1,652,464 shares during the last quarter. KBC Group NV raised its holdings in shares of Huntington Bancshares by 16.3% during the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after acquiring an additional 395,489 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Huntington Bancshares by 991.7% during the 1st quarter. International Assets Investment Management LLC now owns 67,588 shares of the bank’s stock worth $1,073,000 after acquiring an additional 61,397 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.