Huntington Bancshares (NASDAQ:HBAN) Hits New 52-Week High at $14.07

Huntington Bancshares Incorporated (NASDAQ:HBAN) reached a new 52-week high on Wednesday . The stock traded as high as $14.07 and last traded at $14.04, with a volume of 9809905 shares changing hands. The stock had previously closed at $13.85.

Wall Street Analyst Weigh In

A number of analysts have commented on HBAN shares. Citigroup increased their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Price Performance

The company has a market capitalization of $20.36 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $13.48 and its 200 day simple moving average is $12.46.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter last year, the business posted $0.38 EPS. As a group, sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Activity

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,711 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the completion of the transaction, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the transaction, the insider now owns 65,195 shares in the company, valued at approximately $902,298.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,092 shares of company stock valued at $3,031,731. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the 1st quarter valued at about $29,000. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares during the 1st quarter worth approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $29,000. Nemes Rush Group LLC lifted its stake in Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the 4th quarter valued at $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

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.