Morgan Stanley Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $23.00

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by Morgan Stanley from $21.00 to $23.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price points to a potential upside of 37.31% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. UBS Group set a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, February 4th. Finally, Zacks Research lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.69.

Huntington Bancshares Stock Down 1.3%

Shares of NASDAQ:HBAN opened at $16.75 on Monday. The business’s 50 day moving average is $17.77 and its 200 day moving average is $17.09. Huntington Bancshares has a 12-month low of $11.91 and a 12-month high of $19.45. The stock has a market cap of $34.00 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.68 and a beta of 0.95. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, sell-side analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the transaction, the insider directly owned 155,634 shares of the company’s stock, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Rollins III purchased 6,873 shares of Huntington Bancshares stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $23.27 per share, with a total value of $159,934.71. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at $93,080. This represents a -239.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 21,573 shares of company stock worth $423,537 and sold 50,145 shares worth $929,885. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the 4th quarter valued at about $25,000. MTM Investment Management LLC purchased a new stake in Huntington Bancshares during the second quarter valued at about $25,000. Palisade Asset Management LLC bought a new stake in Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. boosted its holdings in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares in the last quarter. Finally, Centennial Bank AR purchased a new position in shares of Huntington Bancshares in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.