Huntington Bancshares (NASDAQ:HBAN) Receives “Equal Weight” Rating from Stephens

Stephens restated their equal weight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $15.00 price target on the bank’s stock.

A number of other research firms also recently weighed in on HBAN. DA Davidson raised shares of Huntington Bancshares from a neutral rating to a buy rating and boosted their price target for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Royal Bank of Canada boosted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an outperform rating in a research note on Tuesday, April 9th. Jefferies Financial Group raised shares of Huntington Bancshares from a hold rating to a buy rating and boosted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a market perform rating in a research note on Friday, April 5th. Finally, Citigroup boosted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a buy rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $15.17.

Huntington Bancshares Trading Up 1.0 %

Shares of NASDAQ HBAN opened at $13.76 on Monday. Huntington Bancshares has a 1-year low of $9.13 and a 1-year high of $14.07. The company has a market cap of $19.95 billion, a PE ratio of 12.40, a P/E/G ratio of 2.50 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average of $13.33 and a two-hundred day moving average of $12.22.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts expect that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock worth $1,360,359 over the last quarter. 0.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HBAN. International Assets Investment Management LLC acquired a new position in Huntington Bancshares during the third quarter worth $381,000. Ronald Blue Trust Inc. raised its position in Huntington Bancshares by 27.9% during the third quarter. Ronald Blue Trust Inc. now owns 7,556 shares of the bank’s stock worth $81,000 after acquiring an additional 1,646 shares in the last quarter. DnB Asset Management AS raised its position in Huntington Bancshares by 11.6% during the third quarter. DnB Asset Management AS now owns 312,108 shares of the bank’s stock worth $3,246,000 after acquiring an additional 32,446 shares in the last quarter. SG Americas Securities LLC raised its position in Huntington Bancshares by 208.2% during the third quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock worth $753,000 after acquiring an additional 48,913 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in Huntington Bancshares by 5.9% during the third quarter. DAVENPORT & Co LLC now owns 252,970 shares of the bank’s stock worth $2,631,000 after acquiring an additional 14,146 shares in the last quarter. Institutional investors and hedge funds 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.