Piper Jaffray Companies Reaffirms “Buy” Rating for Huntington Bancshares (HBAN)
A number of other equities research analysts have also recently issued reports on HBAN. Sanford C. Bernstein raised Huntington Bancshares from a market perform rating to an outperform rating and upped their target price for the stock from $15.00 to $17.00 in a research report on Thursday, September 14th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $14.25 target price on shares of Huntington Bancshares in a research report on Friday, October 13th. BMO Capital Markets cut Huntington Bancshares from an outperform rating to a market perform rating and set a $16.00 target price for the company. in a research report on Thursday, October 26th. Nomura upped their target price on Huntington Bancshares from $16.00 to $17.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Finally, FBR & Co reaffirmed a hold rating and set a $14.00 target price on shares of Huntington Bancshares in a research report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $16.31.
Shares of Huntington Bancshares (NASDAQ HBAN) traded up $0.22 during midday trading on Tuesday, hitting $15.85. The company had a trading volume of 7,951,779 shares, compared to its average volume of 10,649,955. The company has a market cap of $17,130.00, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.33. Huntington Bancshares has a 1-year low of $12.14 and a 1-year high of $15.85. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. Huntington Bancshares had a return on equity of 10.68% and a net margin of 25.22%. During the same period in the previous year, the company earned $0.11 EPS. analysts predict that Huntington Bancshares will post 0.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, December 15th. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.78%. Huntington Bancshares’s payout ratio is 38.55%.
In other news, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the transaction, the executive vice president now directly owns 427,270 shares in the company, valued at $5,930,507.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 14,513 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total value of $199,844.01. Following the transaction, the insider now owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Huntington Bancshares by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,766 shares of the bank’s stock worth $1,092,000 after buying an additional 216 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Huntington Bancshares by 1.3% during the second quarter. Raymond James Trust N.A. now owns 22,377 shares of the bank’s stock worth $303,000 after buying an additional 289 shares during the last quarter. Investment Centers of America Inc. lifted its holdings in shares of Huntington Bancshares by 0.9% during the second quarter. Investment Centers of America Inc. now owns 77,865 shares of the bank’s stock worth $1,053,000 after buying an additional 676 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of Huntington Bancshares by 5.2% during the second quarter. National Asset Management Inc. now owns 14,630 shares of the bank’s stock worth $198,000 after buying an additional 719 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in shares of Huntington Bancshares by 1.4% during the second quarter. Suntrust Banks Inc. now owns 85,608 shares of the bank’s stock worth $1,157,000 after buying an additional 1,142 shares during the last quarter. Institutional investors own 73.53% of the company’s stock.
WARNING: “Piper Jaffray Companies Reaffirms “Buy” Rating for Huntington Bancshares (HBAN)” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://theolympiareport.com/2018/01/12/piper-jaffray-companies-reaffirms-buy-rating-for-huntington-bancshares-hban.html.
Huntington Bancshares Company Profile
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.
Receive News & Ratings for Huntington Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares and related companies with Analyst Ratings Network's FREE daily email newsletter.