Evercore ISI Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its price objective hoisted by Evercore ISI from $17.00 to $18.00 in a report issued on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the bank’s stock.

Several other equities research analysts also recently issued reports on the stock. DA Davidson raised their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Trading Down 0.7 %

Huntington Bancshares stock opened at $15.48 on Wednesday. Huntington Bancshares has a 52 week low of $9.75 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market capitalization of $22.49 billion, a P/E ratio of 14.88, a PEG ratio of 3.18 and a beta of 1.03. The stock has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the business posted $0.36 earnings per share. Analysts expect that Huntington Bancshares will post 1.2 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.01%. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Diversified Trust Co bought a new stake in shares of Huntington Bancshares during the first quarter worth $450,000. State of Alaska Department of Revenue grew its stake in shares of Huntington Bancshares by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after buying an additional 780 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Huntington Bancshares by 73.0% during the first quarter. Valley National Advisers Inc. now owns 7,736 shares of the bank’s stock worth $107,000 after buying an additional 3,265 shares during the last quarter. Norden Group LLC bought a new stake in shares of Huntington Bancshares during the first quarter worth $551,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Huntington Bancshares by 25.1% during the first quarter. First Trust Direct Indexing L.P. now owns 32,725 shares of the bank’s stock worth $457,000 after buying an additional 6,564 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

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.