Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Argus Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its target price increased by equities research analysts at Argus from $19.00 to $20.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the bank’s stock. Argus’ price target points to a potential upside of 15.67% from the stock’s previous close.

Several other research firms have also issued reports on HBAN. Morgan Stanley decreased their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th. Truist Financial raised their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Evercore ISI started coverage on Huntington Bancshares in a research report on Tuesday, October 21st. They set an “outperform” rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.26.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $17.29 on Wednesday. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.91. The company has a market cap of $27.23 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.69 and a beta of 0.95. The business’s 50 day moving average is $17.43 and its two-hundred day moving average is $16.88. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company posted $0.34 earnings per share. On average, equities analysts expect that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 64,587 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the sale, the insider owned 534,640 shares in the company, valued at approximately $8,222,763.20. The trade was a 10.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marcy C. Hingst sold 12,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president directly owned 239,473 shares in the company, valued at approximately $4,310,514. The trade was a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 97,863 shares of company stock valued at $1,581,634. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in HBAN. D.A. Davidson & CO. raised its position in shares of Huntington Bancshares by 23.9% during the fourth quarter. D.A. Davidson & CO. now owns 151,156 shares of the bank’s stock worth $2,623,000 after acquiring an additional 29,196 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Huntington Bancshares by 2.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 872,342 shares of the bank’s stock worth $15,135,000 after purchasing an additional 22,606 shares during the period. State of Michigan Retirement System increased its position in Huntington Bancshares by 5.2% in the fourth quarter. State of Michigan Retirement System now owns 442,250 shares of the bank’s stock worth $7,673,000 after purchasing an additional 21,800 shares during the period. Sentinel Trust Co. LBA raised its holdings in Huntington Bancshares by 1,635.9% during the 4th quarter. Sentinel Trust Co. LBA now owns 605,045 shares of the bank’s stock worth $10,498,000 after purchasing an additional 570,191 shares during the last quarter. Finally, Inscription Capital LLC acquired a new position in Huntington Bancshares during the 4th quarter valued at about $1,350,000. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.