Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been assigned an average rating of “Buy” from the nineteen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $15.06.
A number of research firms have recently commented on HBAN. BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods set a $14.00 price objective on Huntington Bancshares and gave the company a “hold” rating in a report on Saturday, June 24th. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Piper Jaffray Companies upgraded Huntington Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $15.00 in a report on Friday, August 11th. Finally, Instinet reiterated a “buy” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th.
Shares of Huntington Bancshares (HBAN) traded up 0.22% during midday trading on Thursday, reaching $13.98. The company’s stock had a trading volume of 7,518,016 shares. Huntington Bancshares has a 12-month low of $9.95 and a 12-month high of $14.74. The company has a market cap of $15.24 billion, a P/E ratio of 19.36 and a beta of 1.38. The stock’s 50-day moving average price is $13.35 and its 200-day moving average price is $13.12.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business posted $0.19 EPS. On average, analysts expect that Huntington Bancshares will post $0.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were given a $0.08 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.29%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
Huntington Bancshares announced that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $308.00 million in shares. This repurchase authorization permits the bank to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 16,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the completion of the sale, the executive vice president now directly owns 447,722 shares of the company’s stock, valued at approximately $5,690,546.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Neu acquired 2,450 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $13.10 per share, with a total value of $32,095.00. Following the completion of the transaction, the director now directly owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Lincoln National Corp lifted its position in Huntington Bancshares by 0.6% during the 2nd quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock worth $194,000 after acquiring an additional 84 shares during the period. Janney Capital Management LLC lifted its position in Huntington Bancshares by 0.6% during the 2nd quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock worth $394,000 after acquiring an additional 179 shares during the period. North Star Asset Management Inc. lifted its position in Huntington Bancshares by 1.6% during the 1st quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock worth $169,000 after acquiring an additional 200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Huntington Bancshares by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,766 shares of the bank’s stock worth $1,092,000 after acquiring an additional 216 shares during the period. Finally, OLD National Bancorp IN lifted its position in Huntington Bancshares by 1.2% during the 2nd quarter. OLD National Bancorp IN now owns 19,152 shares of the bank’s stock worth $259,000 after acquiring an additional 220 shares during the period. 73.99% of the stock is owned by institutional investors.
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Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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