Brokerages Set Huntington Bancshares Incorporated (NASDAQ:HBAN) Target Price at $16.00

Huntington Bancshares Incorporated (NASDAQ:HBAN) has been assigned a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of analysts have recently issued reports on HBAN shares. ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. BidaskClub upgraded shares of Huntington Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Finally, Argus started coverage on shares of Huntington Bancshares in a report on Friday, May 31st. They issued a “hold” rating on the stock.

In related news, EVP Richard Remiker sold 18,386 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $14.02, for a total value of $257,771.72. Following the completion of the transaction, the executive vice president now directly owns 357,085 shares of the company’s stock, valued at $5,006,331.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen D. Steinour bought 18,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $13.33 per share, with a total value of $239,940.00. Following the completion of the purchase, the chief executive officer now directly owns 5,142,348 shares of the company’s stock, valued at approximately $68,547,498.84. The disclosure for this purchase can be found here. Insiders sold 72,158 shares of company stock valued at $978,909 over the last three months. 1.22% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in HBAN. Financial Gravity Companies Inc. bought a new position in shares of Huntington Bancshares in the fourth quarter valued at $25,000. JOYN Advisors Inc. grew its stake in shares of Huntington Bancshares by 207.5% in the fourth quarter. JOYN Advisors Inc. now owns 2,079 shares of the bank’s stock valued at $25,000 after buying an additional 1,403 shares in the last quarter. FTB Advisors Inc. grew its stake in shares of Huntington Bancshares by 1,100.5% in the fourth quarter. FTB Advisors Inc. now owns 2,401 shares of the bank’s stock valued at $28,000 after buying an additional 2,201 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Huntington Bancshares by 562.0% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 2,721 shares of the bank’s stock valued at $33,000 after buying an additional 2,310 shares in the last quarter. Finally, Bray Capital Advisors grew its stake in shares of Huntington Bancshares by 50.0% in the fourth quarter. Bray Capital Advisors now owns 3,000 shares of the bank’s stock valued at $36,000 after buying an additional 1,000 shares in the last quarter. 75.98% of the stock is owned by institutional investors and hedge funds.

NASDAQ HBAN opened at $13.43 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.90. Huntington Bancshares has a 12-month low of $11.12 and a 12-month high of $16.52. The company has a market capitalization of $14.05 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Huntington Bancshares will post 1.32 EPS for the current fiscal year.

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 issued a $0.14 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.17%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.67%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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