Huntington Bancshares (NASDAQ:HBAN) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a sell rating to a hold rating in a research note published on Monday morning.

HBAN has been the topic of a number of other research reports. Robert W. Baird lowered Huntington Bancshares from an outperform rating to a neutral rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Stephens reiterated an equal weight rating and set a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 22nd. Bank of America increased their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Piper Sandler increased their target price on Huntington Bancshares from $11.50 to $13.50 and gave the stock an underweight rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $15.00 to $14.50 and set a market perform rating on the stock in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $15.47.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $14.37 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $13.52 and its two-hundred day moving average price is $13.37. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 3.05 and a beta of 1.06. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.35 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,900 shares of company stock valued at $1,862,176. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Boston Partners raised its position in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. Norges Bank bought a new position in Huntington Bancshares during the 4th quarter worth $206,703,000. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after purchasing an additional 765,070 shares during the last quarter. Raymond James & Associates raised its position in Huntington Bancshares by 3.1% during the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after purchasing an additional 225,911 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the last quarter. Institutional investors and hedge funds 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.