Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by Royal Bank of Canada from $16.00 to $17.00 in a report released on Monday morning, Benzinga reports. They currently have an outperform rating on the bank’s stock.

Several other research firms have also weighed in on HBAN. Morgan Stanley cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating for the company in a report on Wednesday, June 12th. Keefe, Bruyette & Woods decreased their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a market perform rating for the company in a research report on Tuesday, July 9th. Stephens restated an equal weight rating and set a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. StockNews.com cut Huntington Bancshares from a hold rating to a sell rating in a report on Wednesday, June 19th. Finally, Bank of America raised Huntington Bancshares from a neutral rating to a buy rating and raised their price objective for the company from $14.00 to $16.00 in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $15.50.

Huntington Bancshares Trading Down 1.0 %

NASDAQ HBAN opened at $14.92 on Monday. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $15.21. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $21.62 billion, a PE ratio of 13.44, a P/E/G ratio of 3.85 and a beta of 1.06. The company has a fifty day moving average of $13.41 and a 200 day moving average of $13.28.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the business earned $0.35 earnings per share. Research analysts forecast that Huntington Bancshares will post 1.17 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.16%. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the sale, the vice president now directly owns 397,173 shares in the company, valued at $5,365,807.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $13.51, for a total transaction of $368,350.15. Following the transaction, the vice president now owns 397,173 shares of the company’s stock, valued at $5,365,807.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now directly owns 65,195 shares of the company’s stock, valued at $902,298.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,881 shares of company stock worth $844,003. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the first quarter worth approximately $29,000. YHB Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth about $29,000. Nemes Rush Group LLC raised 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 during the period. Finally, Planned Solutions Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.