Huntington Bancshares (NASDAQ:HBAN) Upgraded at StockNews.com

22 Oct 2024, 07:18 by Mitch Edgeman · The Markets Daily

StockNews.com upgraded shares of Huntington Bancshares (NASDAQ:HBAN – Free Report) from a sell rating to a hold rating in a research report report published on Friday.

A number of other research firms also recently issued reports on HBAN. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Citigroup upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Friday, July 26th. Barclays lifted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.03.

Read Our Latest Stock Report on HBAN

Huntington Bancshares Trading Down 0.6 %

Shares of HBAN stock opened at $15.27 on Friday. The firm has a market cap of $22.13 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $16.03. The business has a 50-day moving average price of $14.56 and a two-hundred day moving average price of $13.94.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities analysts anticipate that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company 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. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.06%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,085 shares of company stock valued at $391,929 in the last quarter. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in HBAN. Wellington Management Group LLP grew its position in Huntington Bancshares by 64.2% during the fourth quarter. Wellington Management Group LLP now owns 304,829 shares of the bank’s stock worth $3,877,000 after buying an additional 119,178 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $299,000. Nomura Holdings Inc. acquired a new stake in shares of Huntington Bancshares during the 4th quarter worth approximately $372,000. GAMMA Investing LLC increased its position in shares of Huntington Bancshares by 31.3% during the first quarter. GAMMA Investing LLC now owns 12,959 shares of the bank’s stock valued at $181,000 after purchasing an additional 3,092 shares during the period. Finally, First Hawaiian Bank raised its stake in shares of Huntington Bancshares by 111.0% in the first quarter. First Hawaiian Bank now owns 26,641 shares of the bank’s stock valued at $372,000 after purchasing an additional 14,013 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

(Get Free Report)