Recent Research Analysts’ Ratings Updates for Huntington Bancshares (HBAN)

A number of firms have modified their ratings and price targets on shares of Huntington Bancshares (NASDAQ: HBAN) recently:

• 6/14/2024 – Huntington Bancshares was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $11.50 price target on the stock, down previously from $13.50.
• 6/14/2024 – Huntington Bancshares had its price target lowered by analysts at JPMorgan Chase & Co. from $18.00 to $17.00. They now have an “overweight” rating on the stock.
• 6/13/2024 – Huntington Bancshares had its price target lowered by analysts at UBS Group AG from $16.00 to $15.00. They now have a “buy” rating on the stock.
• 6/12/2024 – Huntington Bancshares had its price target lowered by analysts at Morgan Stanley from $16.00 to $15.00. They now have an “overweight” rating on the stock.
• 6/11/2024 – Huntington Bancshares had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $16.00 price target on the stock.
• 6/11/2024 – Huntington Bancshares had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $15.00 price target on the stock.
• 6/11/2024 – Huntington Bancshares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/28/2024 – Huntington Bancshares was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $18.00 price target on the stock, up previously from $16.00.
• 4/22/2024 – Huntington Bancshares had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $16.00 price target on the stock.
• 4/22/2024 – Huntington Bancshares had its “equal weight” rating reaffirmed by analysts at Stephens. They now have a $15.00 price target on the stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.05 during midday trading on Tuesday, hitting $12.44. The company had a trading volume of 10,564,591 shares, compared to its average volume of 16,659,055. The business’s 50-day simple moving average is $13.54 and its 200-day simple moving average is $13.10. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the prior year, the company posted $0.38 EPS. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares in the company, valued at $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in shares of Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock worth $2,192,000 after purchasing an additional 780 shares in the last quarter. Park Avenue Securities LLC grew its position in Huntington Bancshares by 1.3% during the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after buying an additional 794 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in Huntington Bancshares by 6.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock valued at $185,000 after purchasing an additional 805 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Huntington Bancshares by 4.7% in the first quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock valued at $250,000 after buying an additional 811 shares in the last quarter. Finally, Mather Group LLC. raised its stake in shares of Huntington Bancshares by 5.8% during the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after buying an additional 837 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.