Evercore ISI Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its price target cut by Evercore ISI from $16.50 to $15.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other research firms also recently issued reports on HBAN. StockNews.com downgraded shares of Huntington Bancshares from a hold rating to a sell rating in a research report on Wednesday, June 19th. JPMorgan Chase & Co. decreased their target price on Huntington Bancshares from $18.00 to $17.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Morgan Stanley dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set an overweight rating for the company in a research report on Wednesday, June 12th. DA Davidson upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and boosted their price objective for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Finally, Bank of America upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and raised their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $15.03.

Huntington Bancshares Stock Up 3.1 %

Huntington Bancshares stock opened at $13.18 on Tuesday. The stock’s 50 day moving average price is $13.42 and its 200 day moving average price is $13.14. The company has a market cap of $19.10 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.40 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 has a 1-year low of $9.25 and a 1-year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company posted $0.38 EPS. On average, sell-side analysts predict that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.70%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insiders Place Their Bets

In other news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,829 shares of company stock valued at $2,148,623. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HBAN. Abich Financial Wealth Management LLC lifted its stake in shares of Huntington Bancshares by 43.1% during the first quarter. Abich Financial Wealth Management LLC now owns 7,912 shares of the bank’s stock worth $110,000 after purchasing an additional 2,383 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Huntington Bancshares by 3.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 586,246 shares of the bank’s stock worth $8,049,000 after acquiring an additional 20,540 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Huntington Bancshares in the 1st quarter worth approximately $569,000. Boston Partners grew its position in Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Huntington Bancshares by 224.2% during the first quarter. Cetera Advisors LLC now owns 158,821 shares of the bank’s stock valued at $2,216,000 after purchasing an additional 109,838 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.