Huntington Bancshares (NASDAQ:HBAN) Reaches New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on HBAN. Barclays raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Argus upped their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI lifted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Price Performance

The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.58 and a beta of 1.03. 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 company has a 50 day moving average price of $15.20 and a 200 day moving average price of $14.25.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently modified their holdings of the company. Asset Dedication LLC increased 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 purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $31,000. Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares in the last quarter. 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.