Huntington Bancshares (NASDAQ:HBAN) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Huntington Bancshares (NASDAQ:HBANFree Report) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the bank’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group raised shares of Huntington Bancshares from a neutral rating to a buy rating and increased their price target for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a market perform rating in a research note on Friday, April 5th. Morgan Stanley reiterated an overweight rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. Stephens restated an equal weight rating and issued a $15.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Huntington Bancshares from a hold rating to a buy rating and increased their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $15.23.

View Our Latest Analysis on HBAN

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $12.34 on Tuesday. The firm’s 50 day simple moving average is $13.62 and its 200 day simple moving average is $13.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $14.30. The firm has a market capitalization of $17.88 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the business posted $0.38 earnings per share. As a group, analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Buying and Selling at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Boston Partners grew its holdings in Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after buying an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new stake in Huntington Bancshares in the 4th quarter worth $206,703,000. KBC Group NV boosted its holdings in shares of Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after purchasing an additional 3,729,974 shares during the last quarter. National Bank of Canada FI grew its position in shares of Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after purchasing an additional 2,979,768 shares in the last quarter. Finally, Scout Investments Inc. bought a new stake in shares of Huntington Bancshares in the first quarter worth about $35,428,000. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

(Get Free Report)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.

Recommended Stories

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

Receive News & Ratings for Huntington Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.