Huntington Bancshares (NASDAQ:HBAN) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $16.00 price target on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. Bank of America raised shares of Huntington Bancshares from a neutral rating to a buy rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a market perform rating in a research note on Friday, April 5th. Evercore ISI upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an outperform rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an outperform rating in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group raised shares of Huntington Bancshares from a hold rating to a buy rating and upped their price target for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $15.17.

Huntington Bancshares Stock Down 1.3 %

Shares of NASDAQ HBAN opened at $13.58 on Monday. Huntington Bancshares has a 12-month low of $9.13 and a 12-month high of $14.07. The company has a market capitalization of $19.66 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day moving average is $13.35 and its two-hundred day moving average is $12.23.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for 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 quarter in the prior year, the firm posted $0.38 earnings per share. Equities analysts anticipate that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction 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 sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction 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 directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The disclosure for this sale can be found here. Insiders sold 198,189 shares of company stock valued at $2,664,978 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $29,000. Wetzel Investment Advisors Inc. bought a new position in Huntington Bancshares during the 4th quarter valued at $29,000. Nemes Rush Group LLC boosted its stake in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,391 shares during the last quarter. Planned Solutions Inc. bought a new position in Huntington Bancshares during the 4th quarter valued at $33,000. Finally, Register Financial Advisors LLC bought a new position in Huntington Bancshares during the 1st quarter valued at $40,000. 80.72% of the stock is currently 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.