BidaskClub cut shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) from a buy rating to a hold rating in a report published on Monday morning.
A number of other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the company a hold rating in a report on Saturday, June 24th. Hilliard Lyons raised shares of Huntington Bancshares from a neutral rating to a buy rating and increased their price objective for the company from $14.00 to $15.00 in a report on Monday. BMO Capital Markets reaffirmed an outperform rating and set a $15.00 price objective (down from $16.00) on shares of Huntington Bancshares in a report on Friday. Morgan Stanley reaffirmed an equal weight rating and set a $14.25 price objective (up from $13.75) on shares of Huntington Bancshares in a report on Friday, July 7th. Finally, Instinet reaffirmed a buy rating and set a $16.00 price objective (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Huntington Bancshares currently has a consensus rating of Buy and a consensus price target of $14.83.
Huntington Bancshares (NASDAQ:HBAN) traded up 1.59% during trading on Monday, reaching $13.40. 7,923,757 shares of the company’s stock were exchanged. The company has a market cap of $14.61 billion, a P/E ratio of 18.56 and a beta of 1.37. The stock’s 50-day moving average is $13.30 and its 200-day moving average is $13.34. Huntington Bancshares has a 12-month low of $9.10 and a 12-month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $0.19 EPS. Analysts predict that Huntington Bancshares will post $0.92 EPS for the current fiscal year.
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Huntington Bancshares declared that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
In related news, EVP Paul G. Heller sold 35,720 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total value of $461,859.60. Following the completion of the transaction, the executive vice president now directly owns 443,883 shares of the company’s stock, valued at $5,739,407.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen D. Steinour bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. City Holding Co. raised its position in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock valued at $108,000 after buying an additional 1,200 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after buying an additional 7,521 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new position in Huntington Bancshares during the first quarter valued at approximately $134,000. Sigma Planning Corp purchased a new position in Huntington Bancshares during the first quarter valued at approximately $137,000. Finally, Affinity Wealth Management purchased a new position in Huntington Bancshares during the first quarter valued at approximately $141,000. 75.51% of the stock is owned by institutional investors.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company 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, and other financial products and services.
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