Stephens Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $19.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by equities research analysts at Stephens from $18.00 to $19.00 in a report issued on Friday,MarketScreener reports. Stephens’ price objective points to a potential upside of 22.58% from the company’s current price.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, DA Davidson raised their target price on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Huntington Bancshares Price Performance

HBAN stock opened at $15.50 on Friday. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $17.08 and a two-hundred day simple moving average of $16.10. The firm has a market capitalization of $22.61 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The business had revenue of $469.00 million during the quarter. Analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Norges Bank bought a new stake in Huntington Bancshares during the 2nd quarter valued at about $374,474,000. AQR Capital Management LLC lifted its holdings in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock valued at $157,292,000 after buying an additional 7,889,004 shares in the last quarter. Invesco Ltd. lifted its holdings in Huntington Bancshares by 8.7% during the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after buying an additional 4,586,607 shares in the last quarter. Amundi lifted its holdings in Huntington Bancshares by 26.2% during the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock valued at $330,395,000 after buying an additional 4,576,432 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at about $50,078,000. Institutional investors own 80.72% of the company’s stock.

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.