Huntington Bancshares (NASDAQ:HBAN) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Friday, Benzinga reports. They currently have a $17.00 target price on the bank’s stock.

HBAN has been the subject of a number of other reports. Piper Sandler lifted their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Argus lifted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI dropped their price target on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Bank of America raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.03.

Huntington Bancshares Trading Down 0.6 %

Shares of HBAN opened at $15.27 on Friday. The stock’s fifty day simple moving average is $14.56 and its 200 day simple moving average is $13.94. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $16.03. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $22.13 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts forecast that Huntington Bancshares will post 1.18 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 4.06%. Huntington Bancshares’s payout ratio is 55.86%.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. This 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 at this hyperlink. Also, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the sale, the insider now owns 618,832 shares in the company, valued at approximately $9,294,856.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,085 shares of company stock valued at $391,929. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Huntington Bancshares by 64.2% during the fourth quarter. Wellington Management Group LLP now owns 304,829 shares of the bank’s stock valued at $3,877,000 after acquiring an additional 119,178 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of Huntington Bancshares in the 4th quarter worth about $299,000. Nomura Holdings Inc. bought a new position in Huntington Bancshares during the fourth quarter valued at about $372,000. GAMMA Investing LLC increased its holdings in Huntington Bancshares by 31.3% during the first quarter. GAMMA Investing LLC now owns 12,959 shares of the bank’s stock worth $181,000 after buying an additional 3,092 shares during the last quarter. Finally, First Hawaiian Bank raised its position in Huntington Bancshares by 111.0% in the first quarter. First Hawaiian Bank now owns 26,641 shares of the bank’s stock worth $372,000 after acquiring an additional 14,013 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.