Huntington Bancshares (NASDAQ:HBAN) Hits New 1-Year High – Here’s What Happened
by Jessica Moore · The Cerbat GemHuntington Bancshares Incorporated (NASDAQ:HBAN – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $18.08 and last traded at $18.0850, with a volume of 8010432 shares changing hands. The stock had previously closed at $17.48.
Analyst Ratings Changes
A number of research firms have issued reports on HBAN. Evercore ISI began coverage on shares of Huntington Bancshares in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 target price for the company. TD Cowen increased their target price on shares of Huntington Bancshares from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Cowen reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Monday, October 20th. Jefferies Financial Group increased their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, Barclays raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $19.97.
Get Our Latest Analysis on HBAN
Huntington Bancshares Trading Up 2.3%
The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $26.09 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.58 and a beta of 0.95. The business has a fifty day moving average price of $16.54 and a 200 day moving average price of $16.75.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its earnings results on Monday, December 1st. The bank reported $0.67 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The business had revenue of $580.00 million for the quarter. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.
Huntington Bancshares Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is currently 43.36%.
Insider Transactions at Huntington Bancshares
In other news, Director John C. Inglis acquired 6,506 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average price of $15.30 per share, with a total value of $99,541.80. Following the acquisition, the director owned 89,831 shares of the company’s stock, valued at $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kendall A. Kowalski sold 2,481 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $17.80, for a total value of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares of the company’s stock, valued at $1,273,874.80. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 87,863 shares of company stock valued at $1,396,634 in the last ninety days. 0.89% of the stock is owned by corporate insiders.
Institutional Trading of Huntington Bancshares
Several institutional investors have recently made changes to their positions in HBAN. Vanguard Group Inc. raised its position in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after purchasing an additional 680,601 shares in the last quarter. Boston Partners raised its holdings in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after buying an additional 2,363,905 shares in the last quarter. Invesco Ltd. lifted its position in shares of Huntington Bancshares by 1.5% during the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock worth $1,020,017,000 after buying an additional 861,263 shares during the period. Geode Capital Management LLC boosted its stake in Huntington Bancshares by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock valued at $658,541,000 after buying an additional 640,852 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock valued at $594,054,000 after acquiring an additional 4,640,302 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.