Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fifteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.45.

• 3 Regional Bank Stocks to Buy on Relaxed Regulations

HBAN has been the subject of a number of research analyst reports. Raymond James restated a "strong-buy" rating and set a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Truist Financial decreased their price target on shares of Huntington Bancshares from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 price objective for the company in a research note on Friday, March 7th. Argus set a $17.00 price target on Huntington Bancshares in a research note on Friday. Finally, Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th.

Read Our Latest Research Report on Huntington Bancshares

Huntington Bancshares Price Performance

• New York Community Bank stock plummets amid real estate risks

NASDAQ:HBAN opened at $14.64 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 52 week low of $11.92 and a 52 week high of $18.45. The stock's 50-day moving average price is $14.52 and its 200-day moving average price is $15.99. The stock has a market capitalization of $21.39 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company earned $0.27 earnings per share. As a group, equities analysts expect that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

• Don't Miss Out: $2 Trillion Could Head to the Banking Sector

Huntington Bancshares announced that its Board of Directors has approved a stock buyback program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, June 17th. Huntington Bancshares's payout ratio is 47.33%.

Insider Activity at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now owns 453,129 shares in the company, valued at $6,647,402.43. This trade represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,051 shares of company stock valued at $2,992,685 over the last ninety days. Insiders own 0.89% of the company's stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in the company. Arvest Bank Trust Division purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $2,381,000. Wilmington Savings Fund Society FSB purchased a new position in Huntington Bancshares in the third quarter worth $1,389,000. Franklin Resources Inc. lifted its holdings in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank's stock valued at $27,901,000 after acquiring an additional 55,602 shares during the period. Principal Financial Group Inc. boosted its position in shares of Huntington Bancshares by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank's stock worth $25,627,000 after purchasing an additional 112,146 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Huntington Bancshares by 10.2% during the 4th quarter. GAMMA Investing LLC now owns 39,656 shares of the bank's stock worth $645,000 after purchasing an additional 3,668 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.

Recommended Stories

• Five stocks we like better than Huntington Bancshares
• Best Stocks Under $10.00
• Don’t Be Fooled by the Bounce: The Market Storm Isn’t Over Yet
• Stock Ratings and Recommendations: Understanding Analyst Ratings
• Coca-Cola Company Stock Can Bubble to New Highs This Year
• 3 Ways To Invest In Coffee, Other Than Drinking It
• 3 Stocks Lifting 2025 Guidance Despite Market Jitters

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Huntington Bancshares Right Now?

Before you consider Huntington Bancshares, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Huntington Bancshares wasn't on the list.

While Huntington Bancshares currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here