Huntington Bancshares’ (HBAN) Mkt Perform Rating Reiterated at FBR & Co
Huntington Bancshares Incorporated (NASDAQ:HBAN)‘s stock had its “mkt perform” rating restated by stock analysts at FBR & Co in a research report issued on Thursday. They currently have a $14.00 price objective on the bank’s stock, down from their prior price objective of $15.00. FBR & Co’s target price would suggest a potential upside of 11.11% from the stock’s current price.
Several other research analysts have also weighed in on HBAN. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Hilliard Lyons lowered Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, January 26th. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, December 23rd. Keefe, Bruyette & Woods set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a research report on Monday, April 3rd. Finally, Barclays PLC upped their price target on Huntington Bancshares from $11.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Huntington Bancshares has a consensus rating of “Buy” and a consensus target price of $13.96.
Huntington Bancshares (NASDAQ:HBAN) opened at 12.60 on Thursday. Huntington Bancshares has a 52-week low of $8.05 and a 52-week high of $14.74. The stock has a market cap of $13.68 billion, a PE ratio of 18.00 and a beta of 1.24. The firm has a 50-day moving average price of $13.37 and a 200 day moving average price of $12.70.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Huntington Bancshares had a return on equity of 11.09% and a net margin of 18.11%. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. Equities analysts anticipate that Huntington Bancshares will post $0.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be given a $0.08 dividend. The ex-dividend date is Thursday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.54%. Huntington Bancshares’s dividend payout ratio is currently 47.06%.
In related news, Director John C. Inglis purchased 7,142 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 28th. The shares were acquired at an average cost of $14.06 per share, for a total transaction of $100,416.52. Following the transaction, the director now directly owns 7,142 shares of the company’s stock, valued at $100,416.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.65% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of HBAN. Norges Bank acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $200,168,000. The Manufacturers Life Insurance Company purchased a new stake in Huntington Bancshares during the third quarter valued at about $125,437,000. Credit Suisse AG increased its stake in Huntington Bancshares by 352.9% in the third quarter. Credit Suisse AG now owns 11,041,779 shares of the bank’s stock valued at $108,873,000 after buying an additional 8,603,800 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Huntington Bancshares by 38.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 29,848,986 shares of the bank’s stock valued at $294,311,000 after buying an additional 8,257,562 shares in the last quarter. Finally, FMR LLC increased its stake in Huntington Bancshares by 10.7% in the fourth quarter. FMR LLC now owns 80,740,836 shares of the bank’s stock valued at $1,067,393,000 after buying an additional 7,795,713 shares in the last quarter. 70.49% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Bancshares
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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