Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $17.00 at Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN) had its target price hoisted by Royal Bank of Canada from $16.00 to $17.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other research analysts have also weighed in on the stock. Evercore ISI lowered their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Piper Sandler lowered shares of Huntington Bancshares from a neutral rating to an underweight rating and lowered their target price for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. Stephens restated an equal weight rating and set a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. StockNews.com lowered shares of Huntington Bancshares from a hold rating to a sell rating in a research report on Wednesday, June 19th. Finally, Bank of America upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and upped their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of Moderate Buy and a consensus target price of $15.50.

Huntington Bancshares Trading Up 0.9 %

NASDAQ HBAN opened at $15.06 on Monday. The stock has a market capitalization of $21.83 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.08 and a beta of 1.06. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $15.24. The firm has a 50-day moving average price of $13.43 and a 200 day moving average price of $13.29. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the company posted $0.35 earnings per share. Equities research analysts expect that Huntington Bancshares will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.12%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Buying and Selling

In related news, VP Rajeev Syal sold 27,265 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $13.51, for a total transaction of $368,350.15. Following the sale, the vice president now owns 397,173 shares in the company, valued at $5,365,807.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Rajeev Syal sold 27,265 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $13.51, for a total transaction of $368,350.15. Following the sale, the vice president now owns 397,173 shares in the company, valued at $5,365,807.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,418 shares of company stock worth $2,214,979. 0.89% of the stock is owned by insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently bought and sold shares of HBAN. Massmutual Trust Co. FSB ADV raised its stake in Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock worth $1,911,000 after purchasing an additional 10,795 shares during the period. Goldman Sachs Group Inc. raised its stake in Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares during the period. KBC Group NV raised its stake in Huntington Bancshares by 715.0% during the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after purchasing an additional 3,729,974 shares during the period. Tower Research Capital LLC TRC raised its stake in Huntington Bancshares by 160.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 206,193 shares of the bank’s stock worth $2,623,000 after purchasing an additional 126,900 shares during the period. Finally, Lindbrook Capital LLC raised its stake in Huntington Bancshares by 43.4% during the fourth quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after purchasing an additional 1,371 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

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.