Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives $10.95 Consensus PT from Brokerages

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) have been given an average rating of “Hold” by the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.95.

Several analysts have recently weighed in on HBAN shares. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Monday, March 9th. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. DA Davidson started coverage on shares of Huntington Bancshares in a research report on Monday, March 23rd. They set a “hold” rating and a $8.00 price objective for the company. Finally, Deutsche Bank lowered their price objective on shares of Huntington Bancshares from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd.

Shares of Huntington Bancshares stock traded down $1.09 during mid-day trading on Friday, hitting $8.80. The stock had a trading volume of 23,399,974 shares, compared to its average volume of 12,425,547. The firm has a 50-day moving average of $9.24 and a two-hundred day moving average of $11.26. Huntington Bancshares has a 12-month low of $6.82 and a 12-month high of $15.63. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The firm has a market cap of $10.03 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 4.67 and a beta of 1.51.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.09). Huntington Bancshares had a net margin of 19.65% and a return on equity of 10.40%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company earned $0.32 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts expect that Huntington Bancshares will post 0.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.60 annualized dividend and a yield of 6.82%. Huntington Bancshares’s payout ratio is 47.24%.

In related news, EVP Mark E. Thompson sold 11,464 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $8.68, for a total transaction of $99,507.52. Following the completion of the transaction, the executive vice president now directly owns 644,809 shares of the company’s stock, valued at approximately $5,596,942.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul G. Heller sold 46,726 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.10, for a total value of $425,206.60. Following the transaction, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at $4,849,781.30. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its position in shares of Huntington Bancshares by 1.2% in the 4th quarter. Cetera Advisors LLC now owns 62,260 shares of the bank’s stock valued at $941,000 after purchasing an additional 750 shares during the period. Grove Bank & Trust raised its stake in Huntington Bancshares by 2.5% during the 4th quarter. Grove Bank & Trust now owns 32,442 shares of the bank’s stock valued at $489,000 after acquiring an additional 783 shares during the last quarter. Azimuth Capital Management LLC raised its stake in Huntington Bancshares by 5.0% during the 4th quarter. Azimuth Capital Management LLC now owns 25,353 shares of the bank’s stock valued at $382,000 after acquiring an additional 1,200 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in Huntington Bancshares by 3.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 36,117 shares of the bank’s stock valued at $545,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Greenleaf Trust raised its stake in Huntington Bancshares by 2.5% during the 1st quarter. Greenleaf Trust now owns 55,925 shares of the bank’s stock valued at $459,000 after acquiring an additional 1,365 shares during the last quarter. 73.97% of the stock is owned by institutional investors and hedge funds.

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).

See Also: Technical Analysis

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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