Hilliard Lyons upgraded shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) from a neutral rating to a buy rating in a report released on Monday, July 24th, MarketBeat.com reports. They currently have $15.00 price objective on the bank’s stock, up from their previous price objective of $14.00.
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reiterated an outperform rating and set a $15.00 price target (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Deutsche Bank AG reiterated a buy rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Instinet reiterated a buy rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Huntington Bancshares from a hold rating to a sell rating in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies reiterated a neutral rating and set a $14.00 price target (down from $14.50) on shares of Huntington Bancshares in a research report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $14.96.
Shares of Huntington Bancshares (NASDAQ HBAN) traded up 0.16% during trading on Monday, hitting $12.66. The stock had a trading volume of 7,073,309 shares. Huntington Bancshares has a 12-month low of $9.46 and a 12-month high of $14.74. The stock’s 50-day moving average is $13.34 and its 200-day moving average is $13.30. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 17.53 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.19 EPS. On average, equities research analysts expect that Huntington Bancshares will post $0.92 EPS for the current year.
Huntington Bancshares announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $308.00 million in shares. This buyback authorization authorizes the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 annualized dividend and a dividend yield of 2.53%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
In other Huntington Bancshares news, Director Richard W. Neu purchased 2,450 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average cost of $13.10 per share, with a total value of $32,095.00. Following the transaction, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Lincoln National Corp boosted its stake in shares of Huntington Bancshares by 0.6% in the second quarter. Lincoln National Corp now owns 14,350 shares of the bank’s stock worth $194,000 after buying an additional 84 shares during the period. Formidable Asset Management LLC boosted its stake in shares of Huntington Bancshares by 0.6% in the first quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock worth $216,000 after buying an additional 100 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Huntington Bancshares by 0.7% in the first quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock worth $355,000 after buying an additional 176 shares during the period. Janney Capital Management LLC boosted its stake in shares of Huntington Bancshares by 0.6% in the second quarter. Janney Capital Management LLC now owns 29,185 shares of the bank’s stock worth $394,000 after buying an additional 179 shares during the period. Finally, North Star Asset Management Inc. boosted its stake in shares of Huntington Bancshares by 1.6% in the first quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock worth $169,000 after buying an additional 200 shares during the period. 74.54% of the stock is owned by hedge funds and other institutional investors.
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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