Huntington Bancshares (NASDAQ:HBAN) PT Lowered to $15.00 at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price target cut by Morgan Stanley from $16.00 to $15.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other brokerages have also commented on HBAN. Keefe, Bruyette & Woods restated a market perform rating and set a $15.00 price target on shares of Huntington Bancshares in a research note on Tuesday. UBS Group upgraded Huntington Bancshares from a neutral rating to a buy rating and upped their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Bank of America upgraded Huntington Bancshares from a neutral rating to a buy rating and upped their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Evercore ISI upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Finally, StockNews.com upgraded Huntington Bancshares from a sell rating to a hold rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of Moderate Buy and an average price target of $15.13.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $12.37 on Wednesday. The firm has a market capitalization of $17.93 billion, a P/E ratio of 11.14, a PEG ratio of 2.31 and a beta of 1.08. The stock has a fifty day moving average price of $13.59 and a 200 day moving average price of $13.05. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $14.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the firm posted $0.38 earnings per share. Equities research analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,711 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the transaction, the insider now owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,829 shares of company stock valued at $2,148,623. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. raised its position in shares of Huntington Bancshares by 7.4% during the 3rd quarter. D.A. Davidson & CO. now owns 37,870 shares of the bank’s stock worth $394,000 after purchasing an additional 2,608 shares during the period. Pathstone Family Office LLC raised its position in shares of Huntington Bancshares by 114.6% during the 3rd quarter. Pathstone Family Office LLC now owns 45,690 shares of the bank’s stock worth $478,000 after purchasing an additional 24,400 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Huntington Bancshares during the 3rd quarter worth approximately $1,508,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Huntington Bancshares by 0.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 853,708 shares of the bank’s stock worth $8,879,000 after purchasing an additional 6,782 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Huntington Bancshares during the 3rd quarter worth approximately $51,000. 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.