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

Huntington Bancshares Incorporated (NASDAQ:HBAN) hit a new 52-week low on Monday . The stock traded as low as $11.92 and last traded at $12.03, with a volume of 2201219 shares traded. The stock had previously closed at $12.60.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday. Baird R W raised Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Barclays raised their price target on Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Finally, Piper Sandler reduced their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.94.

Huntington Bancshares Price Performance

The company has a 50-day moving average of $15.79 and a 200-day moving average of $16.15. The stock has a market capitalization of $18.36 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company earned $0.27 EPS. As a group, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.93%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.41%.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,781 shares of company stock valued at $1,631,151. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently made changes to their positions in HBAN. Creative Capital Management Investments LLC boosted its holdings in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd raised its position in shares of Huntington Bancshares by 126.8% during the 4th quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in Huntington Bancshares in the fourth quarter worth $48,000. Finally, Asset Dedication LLC lifted its stake in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after buying an additional 1,260 shares during the last quarter. 80.72% of the stock is currently owned by 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.