Evercore ISI Trims Huntington Bancshares (NASDAQ:HBAN) Target Price to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective reduced by Evercore ISI from $17.50 to $17.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the bank’s stock.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a research report on Monday, July 22nd. UBS Group dropped their price objective on Huntington Bancshares from $16.00 to $15.00 and set a buy rating on the stock in a research note on Thursday, June 13th. Jefferies Financial Group cut their price objective on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley boosted their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an overweight rating in a report on Monday, August 5th. Finally, StockNews.com downgraded Huntington Bancshares from a hold rating to a sell rating in a report on Monday, September 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $15.71.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $14.62 on Wednesday. The stock has a market capitalization of $21.19 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 3.07 and a beta of 1.04. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.24. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $13.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the firm posted $0.35 EPS. Analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.24%. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,622 shares of company stock worth $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of HBAN. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. Peoples Bank KS acquired a new position in Huntington Bancshares during the third quarter valued at approximately $29,000. YHB Investment Advisors Inc. bought a new stake in Huntington Bancshares during the first quarter worth $30,000. Hazlett Burt & Watson Inc. lifted its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at $40,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Company Profile

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.