BidaskClub lowered shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) from a hold rating to a sell rating in a research note released on Tuesday, August 1st.
A number of other brokerages have also recently commented on HBAN. Deutsche Bank AG reiterated a buy rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Instinet reaffirmed a buy rating and set a $16.00 target price (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. Morgan Stanley reaffirmed an equal weight rating and set a $14.25 target price (up from $13.75) on shares of Huntington Bancshares in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a hold rating in a research report on Monday, April 3rd. Finally, Jefferies Group LLC raised Huntington Bancshares from a hold rating to a buy rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $14.96.
Huntington Bancshares (HBAN) opened at 12.66 on Tuesday. Huntington Bancshares has a 1-year low of $9.46 and a 1-year high of $14.74. The company has a market cap of $13.80 billion, a PE ratio of 17.53 and a beta of 1.37. The stock has a 50 day moving average price of $13.34 and a 200 day moving average price of $13.30.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $0.19 EPS. Equities analysts forecast that Huntington Bancshares will post $0.92 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.53%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 46.38%.
Huntington Bancshares declared that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $308.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director Richard W. Neu purchased 2,450 shares of the business’s stock in a transaction on Friday, July 28th. The stock was acquired at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the purchase, the director now owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in HBAN. Parametrica Management Ltd bought a new position in Huntington Bancshares during the first quarter worth about $291,000. Capstone Asset Management Co. increased its position in Huntington Bancshares by 8.2% in the first quarter. Capstone Asset Management Co. now owns 65,604 shares of the bank’s stock worth $878,000 after buying an additional 4,990 shares during the period. National Pension Service bought a new position in Huntington Bancshares during the first quarter worth about $13,279,000. Gulf International Bank UK Ltd increased its position in Huntington Bancshares by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 332,423 shares of the bank’s stock worth $4,451,000 after buying an additional 4,900 shares during the period. Finally, Creative Planning increased its position in Huntington Bancshares by 5.9% in the first quarter. Creative Planning now owns 141,140 shares of the bank’s stock worth $1,890,000 after buying an additional 7,882 shares during the period. Institutional investors and hedge funds own 74.54% of the company’s stock.
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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