Huntington Bancshares’ (HBAN) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 price target on the bank’s stock.

HBAN has been the subject of several other research reports. Barclays raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler increased their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.41.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.17 on Thursday. 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 firm has a market cap of $24.94 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The firm’s fifty day moving average price is $16.60 and its 200 day moving average price is $14.82. Huntington Bancshares has a 1-year low of $11.77 and a 1-year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the business earned $0.36 earnings per share. On average, sell-side analysts expect that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s 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 transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 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 valued at $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares in the third quarter valued at about $32,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares in the last quarter. 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.