Piper Sandler Reiterates $15.00 Price Target for Huntington Bancshares (NASDAQ:HBAN)

Piper Sandler set a $15.00 target price on Huntington Bancshares (NASDAQ:HBANGet Rating) in a report issued on Monday, Stock Target Advisor reports.

HBAN has been the subject of several other research reports. Raymond James dropped their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set a strong-buy rating for the company in a research report on Friday, April 22nd. Keefe, Bruyette & Woods lowered shares of Huntington Bancshares from a market perform rating to an underperform rating and dropped their price objective for the stock from $17.00 to $15.00 in a research report on Thursday, June 2nd. Morgan Stanley dropped their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set an equal weight rating for the company in a research report on Monday, March 28th. The Goldman Sachs Group dropped their price objective on shares of Huntington Bancshares from $17.50 to $14.50 and set a buy rating for the company in a research report on Tuesday, May 31st. Finally, StockNews.com raised shares of Huntington Bancshares from a sell rating to a hold rating in a research report on Friday, April 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $16.15.

Shares of HBAN stock opened at $11.94 on Monday. Huntington Bancshares has a one year low of $11.73 and a one year high of $17.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $14.65. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 10.21 and a beta of 1.18.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The bank reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. Huntington Bancshares’s revenue for the quarter was up 20.3% compared to the same quarter last year. As a group, equities analysts forecast that Huntington Bancshares will post 1.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Thursday, June 16th. Huntington Bancshares’s payout ratio is 52.99%.

In related news, VP Steven Lee Rhodes sold 14,705 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $13.28, for a total value of $195,282.40. Following the completion of the sale, the vice president now directly owns 127,581 shares of the company’s stock, valued at $1,694,275.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 5,456 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $13.72, for a total value of $74,856.32. Following the completion of the sale, the chief financial officer now directly owns 207,777 shares of the company’s stock, valued at $2,850,700.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,327 shares of company stock valued at $657,985. Company insiders own 0.72% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ninety One UK Ltd acquired a new position in Huntington Bancshares in the first quarter valued at approximately $203,919,000. Norges Bank acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $213,579,000. Charles Schwab Investment Management Inc. boosted its stake in Huntington Bancshares by 32.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 37,648,315 shares of the bank’s stock valued at $580,538,000 after acquiring an additional 9,257,936 shares during the period. Invesco Ltd. boosted its stake in Huntington Bancshares by 25.7% in the first quarter. Invesco Ltd. now owns 38,854,627 shares of the bank’s stock valued at $568,053,000 after acquiring an additional 7,947,366 shares during the period. Finally, BlackRock Inc. boosted its stake in Huntington Bancshares by 6.0% in the first quarter. BlackRock Inc. now owns 136,897,261 shares of the bank’s stock valued at $2,001,438,000 after acquiring an additional 7,774,643 shares during the period. 79.26% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile (Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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