Huntington Bancshares Incorporated (NASDAQ:HBAN) has earned a consensus rating of “Buy” from the twenty-three ratings firms that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.98.
A number of equities research analysts have weighed in on the company. ValuEngine cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Morgan Stanley boosted their price objective on Huntington Bancshares from $16.50 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. BidaskClub upgraded Huntington Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.75 price target on shares of Huntington Bancshares in a research note on Wednesday, January 24th. Finally, JPMorgan Chase upped their price target on Huntington Bancshares from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th.
A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its holdings in Huntington Bancshares by 7.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 130,837 shares of the bank’s stock worth $1,905,000 after acquiring an additional 8,738 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Huntington Bancshares by 8.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 229,776 shares of the bank’s stock worth $3,346,000 after acquiring an additional 17,839 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Huntington Bancshares by 9.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 461,181 shares of the bank’s stock worth $6,715,000 after acquiring an additional 39,977 shares during the period. Delek Group Ltd. acquired a new position in Huntington Bancshares during the fourth quarter worth $11,719,000. Finally, SWS Partners acquired a new position in Huntington Bancshares during the fourth quarter worth $126,000. 73.91% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. Huntington Bancshares had a return on equity of 12.12% and a net margin of 25.02%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $0.18 earnings per share. research analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 19th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, March 16th. Huntington Bancshares’s dividend payout ratio is presently 44.90%.
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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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