Evercore ISI Trims Huntington Bancshares (NASDAQ:HBAN) Target Price to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by Evercore ISI from $16.50 to $15.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

A number of other equities analysts have also issued reports on the company. StockNews.com lowered Huntington Bancshares from a hold rating to a sell rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $18.00 to $17.00 and set an overweight rating for the company in a report on Friday, June 14th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Tuesday, June 11th. Stephens restated an equal weight rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, Bank of America upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and increased their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $15.03.

Huntington Bancshares Trading Up 3.1 %

Shares of NASDAQ:HBAN opened at $13.18 on Tuesday. 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 firm has a market capitalization of $19.10 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.40 and a beta of 1.08. The business’s 50-day moving average is $13.42 and its 200 day moving average is $13.14. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm posted $0.38 EPS. On average, research analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.70%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 157,829 shares of company stock valued at $2,148,623 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares in the 4th quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the first quarter worth $29,000. Nemes Rush Group LLC grew its holdings in 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 buying an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares during the 1st quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

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.