Huntington Bancshares (HBAN) Price Target Raised to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price target lifted by Barclays from $14.00 to $17.00 in a research report released on Tuesday, January 2nd, MarketBeat reports. The firm currently has an equal weight rating on the bank’s stock.

HBAN has been the topic of several other reports. Morgan Stanley increased their price target on shares of Huntington Bancshares from $14.50 to $16.50 and gave the stock an equal weight rating in a research report on Wednesday, December 13th. BidaskClub raised shares of Huntington Bancshares from a hold rating to a buy rating in a research note on Friday, December 22nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $14.25 price objective on shares of Huntington Bancshares in a research note on Friday, October 13th. Nomura increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, Sanford C. Bernstein raised shares of Huntington Bancshares from a market perform rating to an outperform rating and increased their price objective for the stock from $15.00 to $17.00 in a research note on Thursday, September 14th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $16.75.

Shares of Huntington Bancshares (NASDAQ HBAN) traded up $0.16 during trading on Tuesday, reaching $16.21. 8,260,125 shares of the company were exchanged, compared to its average volume of 10,390,000. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.94. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $16.33. The company has a market capitalization of $17,700.00, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned $0.18 earnings per share. equities research analysts predict that Huntington Bancshares will post 1.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 19th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.71%. Huntington Bancshares’s payout ratio is currently 32.00%.

In other news, insider Helga Houston sold 14,513 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the sale, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC lifted its holdings in shares of Huntington Bancshares by 99,812.5% in the 2nd quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after acquiring an additional 7,985 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Huntington Bancshares in the 2nd quarter worth about $139,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Huntington Bancshares by 8.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock worth $140,000 after acquiring an additional 834 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter worth about $151,000. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Huntington Bancshares by 53.4% in the 3rd quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock worth $156,000 after acquiring an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.

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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.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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