Huntington Bancshares (NASDAQ:HBAN – Get Rating) had its price objective decreased by Royal Bank of Canada from $16.00 to $15.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the bank’s stock.
A number of other analysts have also commented on the stock. Keefe, Bruyette & Woods raised shares of Huntington Bancshares from an underperform rating to a market perform rating and cut their price objective for the stock from $13.50 to $13.00 in a research report on Wednesday, April 5th. Raymond James lowered their target price on Huntington Bancshares from $18.00 to $15.00 and set a strong-buy rating on the stock in a research report on Thursday, April 6th. Piper Sandler increased their price target on Huntington Bancshares from $12.00 to $13.00 and gave the company a neutral rating in a research report on Friday. Morgan Stanley lowered their price target on Huntington Bancshares from $18.00 to $13.00 and set an overweight rating on the stock in a research report on Wednesday, April 5th. Finally, StockNews.com downgraded Huntington Bancshares from a hold rating to a sell rating in a report on Thursday, April 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $13.83.
Huntington Bancshares Price Performance
HBAN stock opened at $11.20 on Friday. The stock has a market cap of $16.24 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 6.06 and a beta of 1.06. The stock has a 50-day moving average price of $12.61 and a two-hundred day moving average price of $13.91. Huntington Bancshares has a 1 year low of $9.94 and a 1 year high of $15.74. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.80.
Huntington Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Thursday, June 15th. Huntington Bancshares’s payout ratio is 40.00%.
Insider Buying and Selling
In other Huntington Bancshares news, Director David L. Porteous sold 80,000 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the transaction, the director now owns 62,845 shares in the company, valued at approximately $943,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp raised its holdings in Huntington Bancshares by 2.2% in the 1st quarter. Mackenzie Financial Corp now owns 125,893 shares of the bank’s stock valued at $1,410,000 after acquiring an additional 2,651 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in Huntington Bancshares by 6.4% in the first quarter. Verdence Capital Advisors LLC now owns 72,649 shares of the bank’s stock valued at $814,000 after purchasing an additional 4,347 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Huntington Bancshares during the first quarter worth about $130,000. Rockland Trust Co. grew its stake in Huntington Bancshares by 19.2% during the first quarter. Rockland Trust Co. now owns 61,235 shares of the bank’s stock worth $686,000 after buying an additional 9,848 shares in the last quarter. Finally, Argent Advisors Inc. increased its holdings in Huntington Bancshares by 7.3% in the 1st quarter. Argent Advisors Inc. now owns 43,565 shares of the bank’s stock valued at $488,000 after buying an additional 2,969 shares during the period. 80.43% of the stock is owned by institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.
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