Huntington Bancshares (HBAN) Raised to Buy at Hilliard Lyons
Hilliard Lyons upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has $17.00 price target on the bank’s stock.
A number of other research firms have also weighed in on HBAN. ValuEngine lowered shares of Huntington Bancshares from a buy rating to a hold rating in a report on Friday, February 2nd. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $16.50 to $17.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $16.75 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company a neutral rating in a research note on Thursday, January 25th. Finally, Vining Sparks reiterated a buy rating and issued a $19.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 23rd. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $16.75.
Shares of Huntington Bancshares (HBAN) opened at $15.48 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a fifty-two week low of $12.14 and a fifty-two week high of $16.53. The firm has a market cap of $16,730.00, a PE ratio of 15.48, a P/E/G ratio of 1.17 and a beta of 1.35.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, March 16th. Huntington Bancshares’s dividend payout ratio is currently 32.00%.
Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of Huntington Bancshares by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 2,072,978 shares of the bank’s stock valued at $28,939,000 after acquiring an additional 58,161 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Huntington Bancshares by 39.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 723,671 shares of the bank’s stock valued at $10,102,000 after acquiring an additional 205,325 shares during the period. Toronto Dominion Bank grew its position in shares of Huntington Bancshares by 25.4% during the 2nd quarter. Toronto Dominion Bank now owns 369,480 shares of the bank’s stock valued at $4,994,000 after acquiring an additional 74,932 shares during the period. Capital International Investors grew its position in shares of Huntington Bancshares by 13.2% during the 3rd quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock valued at $694,080,000 after acquiring an additional 5,800,000 shares during the period. Finally, K.J. Harrison & Partners Inc bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $768,000. 74.19% of the stock is owned by hedge funds and other institutional investors.
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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