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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HBAN. Barclays raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. Morgan Stanley lifted their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.09.

Huntington Bancshares Price Performance

The company’s 50 day moving average is $15.32 and its 200 day moving average is $14.30. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the business posted $0.36 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business 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 $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.54%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Insider Buying and Selling

In other news, 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 value of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Asset Dedication LLC lifted its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares in the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. boosted its stake 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 valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the 3rd quarter worth about $32,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.