Huntington Bancshares (NASDAQ:HBAN) Reaches New 1-Year High - What's Next?

Huntington Bancshares Incorporated (NASDAQ:HBAN) shares have surged to a new 52-week high during mid-day trading on Wednesday, reaching a peak of $17.11 before settling at $17.05. This represents a noticeable increase from the previous closing price of $15.54, with a total trading volume of 477,256 shares.

Wall Street Analysts Project Positive Growth

A variety of research analysts have provided insights into Huntington Bancshares’ performance. Recently, Morgan Stanley raised their price target for the stock from $16.00 to $18.00 and assigned it an "overweight" rating as of August 5th. Barclays also adjusted their target from $15.00 to $17.00, rating the stock as "equal weight" on October 18th. Additionally, Bank of America upped their target from $15.00 to $17.00 while assigning a "buy" rating on July 22nd. Other analysts like Sandler O'Neill and Argus have reaffirmed their "buy" ratings, with Argus raising the price target from $15.00 to $16.00. However, there are mixed views; one analyst has rated the stock as a sell, six have rated it as a hold, 12 have recommended a buy, and one has given a strong buy rating. The consensus rating for Huntington Bancshares stands at "Moderate Buy" with an average target price of $16.09, according to MarketBeat.com.

Positive Stock Performance

Year-to-date, Huntington Bancshares has seen its stock price climb by 9.9%. The company has a 50-day moving average of $14.93 and a 200-day moving average of $14.11. Financial metrics show a quick ratio of 0.87, a current ratio of 0.88, and a debt-to-equity ratio of 0.86. The firm’s market capitalization is approximately $24.81 billion, with a P/E ratio of 14.94 and a P/E growth ratio of 3.15, indicating stability in performance.

Earnings Report Insights

On October 17th, Huntington Bancshares released its latest earnings report, posting a profit of $0.33 per share, exceeding analysts' expectations of $0.30 by three cents. The reports indicated a quarterly revenue of $1.89 billion, outpacing predictions of $1.86 billion. The bank recorded a net margin of 14.19% and a return on equity of 10.72%, though this was a slight decline from $0.36 earnings per share during the same quarter last year. Analysts predict that Huntington Bancshares will achieve an EPS of 1.2 for the current fiscal year.

Upcoming Dividend Announcement

The company has also disclosed plans to distribute a quarterly dividend. Shareholders of record by December 18th will receive a dividend of $0.155, set to be paid on January 2nd. This results in an annualized dividend of $0.62 and a yield of 3.63%. The payout ratio stands at 59.62%.

Insider Transactions and Trading Activity

In related updates, insider Helga Houston recently sold 6,455 shares at an average price of $15.43, totaling approximately $99,600.65. Post-sale, Houston retains 558,342 shares, valued at about $8.6 million, indicating a negligible decrease in her ownership. Corporate insiders currently hold 0.92% of the company’s shares.

Institutional Investor Engagement

Various institutional investors are actively managing their stakes in Huntington Bancshares. For instance, WealthShield Partners LLC increased its shares by 5.9% in the second quarter, while UMB Bank n.a. raised its position by 19.1% in the third quarter. Foundations Investment Advisors and Summit Financial Strategies also expanded their holdings in the second quarter. Overall, institutional investors own 80.72% of the company's stock, reflecting significant market interest.

About Huntington Bancshares

Huntington Bancshares Incorporated serves as the holding company for The Huntington National Bank, offering commercial, consumer, and mortgage banking services in the United States. Its services extend across deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, and insurance, catering to both consumer and business clients.

Huntington, Bank, Stocks