Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Price Target at $15.30

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.13.

Several research analysts recently issued reports on HBAN shares. Stephens reissued an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Tuesday, June 11th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $15.50 in a report on Tuesday, February 27th.

Insider Buying and Selling

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Large investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at $29,000. Nemes Rush Group LLC raised its stake in shares of Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,391 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the 1st quarter valued at $30,000. Finally, Planned Solutions Inc. purchased a new position in shares of Huntington Bancshares in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $12.37 on Friday. The company has a fifty day moving average of $13.57 and a two-hundred day moving average of $13.07. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $14.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $17.93 billion, a PE ratio of 11.14, a P/E/G ratio of 2.29 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 5.01%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.