Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $20.00 at The Goldman Sachs Group

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by The Goldman Sachs Group from $16.25 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

HBAN has been the topic of several other reports. DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research note on Friday, October 18th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.62.

Huntington Bancshares Price Performance

Shares of HBAN opened at $18.01 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company’s fifty day moving average price is $15.99 and its 200-day moving average price is $14.58. Huntington Bancshares has a 1-year low of $11.10 and a 1-year high of $18.44. The firm has a market capitalization of $26.17 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced 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. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $0.36 earnings per share. On average, equities research analysts predict that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.44%. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently modified their holdings of HBAN. Asset Dedication LLC boosted its position in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. grew its position in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.