Shares of Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating) received an average recommendation of “Hold” from the sixteen rating agencies that cover the company, reports Marketbeat.com. Three investment analysts rated the stock with a sell recommendation, seven gave the company a hold recommendation, four gave the company a buy recommendation and one gave the company a strong buy recommendation. The year-over-year average target price among brokers who updated their coverage on the stock in the past year is $15.13.
Several equity analysts have recently commented on the stock. Jefferies Financial Group lowered its price target on shares of Huntington Bancshares from $14.50 to $13.00 in a Monday, July 11 research report. Morgan Stanley lowered its price target on shares of Huntington Bancshares from $17.00 to $14.00 and set an “equal weight” rating for the company in a Tuesday, July 12 research report. StockNews.com began covering Huntington Bancshares shares in a research report on Wednesday, October 12. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Huntington Bancshares from $16.50 to $15.50 and set a “holding” rating for the company in a Monday, September 12 research report. Finally, Argus upgraded Huntington Bancshares shares from a “hold” rating to a “buy” rating and set a price target of $15.00 for the company in a Thursday, July 28 research report.
Performance of Huntington Bancshares shares
NASDAQ: HBAN opened at $13.85 on Tuesday. The company has a 50-day simple moving average of $13.69 and a 200-day simple moving average of $13.32. The company has a debt ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $19.97 billion, a PE ratio of 12.37 and a beta of 1.10. Huntington Bancshares has a 1-year low of $11.67 and a 1-year high of $17.79.
Huntington Bancshares (NASDAQ:HBAN – Get a rating) last released its quarterly results on Thursday, July 21. The bank reported EPS of $0.36 for the quarter, beating the consensus estimate of $0.34 by $0.02. Huntington Bancshares had a net margin of 25.58% and a return on equity of 13.11%. The company posted revenue of $1.75 billion in the quarter, versus analyst estimates of $1.70 billion. In the same quarter a year earlier, the company posted earnings of $0.35 per share. On average, stock analysts expect Huntington Bancshares to post EPS of 1.45 for the current year.
Huntington Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, October 3. Shareholders of record on Monday, September 19 received a dividend of $0.155. The ex-dividend date was Friday, September 16. This represents an annualized dividend of $0.62 and a dividend yield of 4.48%. Huntington Bancshares’ dividend payout ratio (DPR) is currently 55.36%.
Separately, director Gary Torgow purchased 19,382 shares of the company in a trade dated Wednesday, July 27. The shares were acquired at an average cost of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the purchase, the director now owns 893,301 shares of the company, valued at $11,523,582.90. The acquisition was disclosed in a filing with the SEC, which is available via the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 11,618 shares in a trade on Tuesday, August 16. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the transaction, the CFO now directly owns 230,394 shares of the company, valued at approximately $3,308,457.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Additionally, director Gary Torgow acquired 19,382 shares of Huntington Bancshares in a transaction on Wednesday July 27. The shares were purchased at an average price of $12.90 per share, for a total transaction of $250,027.80. Following the completion of the purchase, the administrator now directly owns 893,301 shares of the company, valued at $11,523,582.90. Disclosure of this purchase can be found here. Insiders hold 0.72% of the company’s shares.
Institutional Equity Trading Huntington Banc
A number of institutional investors and hedge funds have recently changed their holdings in the company. Vanguard Group Inc. increased its holdings of Huntington Bancshares shares by 1.5% in the first quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank worth $2,380,062,000 after purchasing an additional 2,353,575 shares during the period. BlackRock Inc. increased its holdings of shares of Huntington Bancshares by 6.0% during the first quarter. BlackRock Inc. now owns 136,897,261 shares of the bank worth $2,001,438,000 after purchasing an additional 7,774,643 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Huntington Bancshares by 8.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 69,263,384 shares of the bank worth $833,239,000 after purchasing an additional 5,592,181 shares during the period. Charles Schwab Investment Management Inc. increased its holdings of Huntington Bancshares shares by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 39,384,881 shares of the bank worth $575,807,000 after purchasing an additional 1,736,566 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Huntington Bancshares by 25.7% during the first quarter. Invesco Ltd. now owns 38,854,627 shares of the bank worth $568,053,000 after purchasing an additional 7,947,366 shares during the period. 79.77% of the shares are held by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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