Huntington Bancshares (NASDAQ:HBAN) Hits New 1-Year High – What’s Next?

Huntington Bancshares Incorporated (NASDAQ:HBAN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.11 and last traded at $17.05, with a volume of 477256 shares trading hands. The stock had previously closed at $15.54.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Barclays increased their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Bank of America boosted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Argus upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Stock Up 9.9 %

The firm has a 50 day moving average of $14.93 and a two-hundred day moving average of $14.11. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the business posted $0.36 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.2 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.63%. Huntington Bancshares’s payout ratio is presently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthShield Partners LLC increased its stake in shares of Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares in the last quarter. UMB Bank n.a. raised its position in shares of Huntington Bancshares by 19.1% during the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 shares during the period. Foundations Investment Advisors LLC grew its position in Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares during the period. Summit Financial Strategies Inc. increased its stake in Huntington Bancshares by 2.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after purchasing an additional 762 shares in the last quarter. Finally, TCW Group Inc. raised its holdings in Huntington Bancshares by 4.1% during the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock worth $267,000 after buying an additional 794 shares during the last quarter. 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.