Truist Financial Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective dropped by analysts at Truist Financial from $21.00 to $19.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 24.92% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. National Bank Financial set a $21.00 target price on Huntington Bancshares in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Finally, Jefferies Financial Group decreased their price target on Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.68.

Huntington Bancshares Stock Down 1.7%

HBAN opened at $15.21 on Friday. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a market cap of $30.87 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $17.53 and a 200 day moving average of $17.03.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results 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). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period in the previous year, the firm earned $0.34 EPS. On average, sell-side analysts expect that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at $802,594.14. This represents a 29.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 27,700 shares of company stock valued at $540,401 and sold 33,285 shares valued at $627,009. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. MV Capital Management Inc. bought a new stake in Huntington Bancshares during the fourth quarter valued at approximately $25,000. MTM Investment Management LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $26,000. South Plains Financial Inc. raised its position in shares of Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares in the last quarter. Finally, Centennial Bank AR bought a new stake in shares of Huntington Bancshares during the 4th quarter worth $28,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.