Huntington Bancshares (NASDAQ:HBAN) Reaches New 1-Year High – What’s Next?

Huntington Bancshares Incorporated (NASDAQ:HBAN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.96 and last traded at $17.96, with a volume of 3726367 shares. The stock had previously closed at $17.64.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. DA Davidson raised their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley raised their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Argus raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Stock Performance

The stock has a market cap of $25.47 billion, a PE ratio of 16.86, a P/E/G ratio of 3.55 and a beta of 1.03. The company has a fifty day moving average price of $15.32 and a 200 day moving average price of $14.30. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. Analysts expect that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued 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 yield of 3.54%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. raised its position in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $31,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $32,000. 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.