Huntington Bancshares Inc. (HBAN) Price Target Raised to $14.00 at Wedbush
Huntington Bancshares Inc. (NASDAQ:HBAN) had its price target boosted by stock analysts at Wedbush from $13.00 to $14.00 in a research report issued on Wednesday. The firm currently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 14.01% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Deutsche Bank AG raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.50 to $11.50 in a research report on Wednesday, September 28th. FBR & Co downgraded shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $11.00 target price on the stock. in a research report on Tuesday, October 11th. Jefferies Group reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Thursday, August 4th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Huntington Bancshares in a research report on Saturday, November 19th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.47.
Huntington Bancshares (NASDAQ:HBAN) opened at 12.28 on Wednesday. Huntington Bancshares has a 52 week low of $7.83 and a 52 week high of $12.68. The stock has a 50 day moving average of $10.90 and a 200-day moving average of $9.95. The stock has a market cap of $13.32 billion, a P/E ratio of 17.34 and a beta of 1.16.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, October 26th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same period in the prior year, the company posted $0.18 EPS. Analysts forecast that Huntington Bancshares will post $0.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Tuesday, December 20th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, December 16th. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.07. Huntington Bancshares’s payout ratio is 39.44%.
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In other Huntington Bancshares news, insider Sandra E. Pierce sold 52,994 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $11.62, for a total value of $615,790.28. Following the sale, the insider now owns 495,651 shares of the company’s stock, valued at approximately $5,759,464.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David S. Anderson sold 10,011 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $10.60, for a total transaction of $106,116.60. Following the completion of the sale, the executive vice president now directly owns 102,580 shares in the company, valued at approximately $1,087,348. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Savant Capital LLC purchased a new stake in Huntington Bancshares during the third quarter valued at $102,000. Schmidt P J Investment Management Inc. purchased a new stake in Huntington Bancshares during the third quarter valued at $104,000. Lakeview Capital Partners LLC purchased a new stake in Huntington Bancshares during the third quarter valued at $107,000. Brown Advisory Securities LLC raised its stake in Huntington Bancshares by 2.1% in the second quarter. Brown Advisory Securities LLC now owns 11,106 shares of the company’s stock valued at $101,000 after buying an additional 229 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Huntington Bancshares by 14.6% in the third quarter. Checchi Capital Advisers LLC now owns 11,178 shares of the company’s stock valued at $110,000 after buying an additional 1,424 shares during the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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