Evercore ISI Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its target price hoisted by Evercore ISI from $17.00 to $18.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

A number of other research firms also recently weighed in on HBAN. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Barclays raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.09.

Huntington Bancshares Stock Performance

HBAN stock opened at $15.48 on Wednesday. The business’s fifty day moving average is $14.90 and its 200-day moving average is $14.07. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a market cap of $22.49 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 3.18 and a beta of 1.03. Huntington Bancshares has a twelve month low of $9.75 and a twelve month high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the business posted $0.36 EPS. Equities research analysts forecast that Huntington Bancshares will post 1.2 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This trade represents 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. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently modified their holdings of the stock. Boston Partners grew its holdings in shares of Huntington Bancshares by 20.4% in the 1st 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. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after acquiring an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after purchasing an additional 561,565 shares during the period. Hsbc Holdings PLC grew its holdings in Huntington Bancshares by 9.5% during the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after purchasing an additional 566,015 shares during the period. Finally, abrdn plc grew its holdings in Huntington Bancshares by 3.9% during the third quarter. abrdn plc now owns 3,660,616 shares of the bank’s stock worth $53,976,000 after purchasing an additional 137,032 shares during the period. 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.