Raymond James reissued their buy rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a report published on Monday morning, AnalystRatings.com reports. The firm currently has a $12.00 price target on the bank’s stock.
Other research analysts have also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Huntington Bancshares in a report on Friday, July 31st. They set an outperform rating for the company. BidaskClub cut shares of Huntington Bancshares from a sell rating to a strong sell rating in a report on Thursday, September 3rd. BMO Capital Markets increased their target price on shares of Huntington Bancshares from $9.00 to $10.00 and gave the stock a market perform rating in a report on Friday, July 24th. Stephens raised shares of Huntington Bancshares from an equal weight rating to an overweight rating and upped their price target for the stock from $9.00 to $10.50 in a research report on Wednesday, June 3rd. Finally, ValuEngine raised shares of Huntington Bancshares from a sell rating to a hold rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $10.18.
Shares of HBAN opened at $9.89 on Monday. Huntington Bancshares has a 12 month low of $6.82 and a 12 month high of $15.63. The firm has a fifty day simple moving average of $9.60 and a 200 day simple moving average of $9.15. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 3.34 and a beta of 1.49. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.92.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 23rd. The bank reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Huntington Bancshares had a net margin of 16.27% and a return on equity of 8.35%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Huntington Bancshares will post 0.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Wednesday, September 16th. Huntington Bancshares’s payout ratio is presently 47.24%.
Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Huntington Bancshares by 22.4% in the 1st quarter. JPMorgan Chase & Co. now owns 43,892,545 shares of the bank’s stock valued at $360,358,000 after acquiring an additional 8,020,890 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 35.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,849,996 shares of the bank’s stock worth $107,065,000 after acquiring an additional 3,078,079 shares in the last quarter. FMR LLC boosted its stake in shares of Huntington Bancshares by 6.4% during the 2nd quarter. FMR LLC now owns 49,897,620 shares of the bank’s stock worth $450,825,000 after acquiring an additional 3,014,020 shares in the last quarter. Holocene Advisors LP lifted its stake in Huntington Bancshares by 1,382.7% in the 2nd quarter. Holocene Advisors LP now owns 2,982,518 shares of the bank’s stock valued at $26,947,000 after buying an additional 2,781,359 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Huntington Bancshares by 362.8% in the 2nd quarter. Nordea Investment Management AB now owns 3,064,548 shares of the bank’s stock valued at $27,060,000 after buying an additional 2,402,402 shares in the last quarter. 71.45% of the stock is currently owned by institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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