The Goldman Sachs Group Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective dropped by equities researchers at The Goldman Sachs Group from $21.00 to $20.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 25.94% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial dropped their target price on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday. National Bank Financial set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods decreased their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. Finally, UBS Group set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.13.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.88 on Monday. Huntington Bancshares has a 1-year low of $12.08 and a 1-year high of $19.45. The firm has a market capitalization of $32.35 billion, a PE ratio of 11.42, a PEG ratio of 0.64 and a beta of 0.95. The business’s 50 day moving average is $16.69 and its 200-day moving average is $16.76. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.34 EPS. Sell-side analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current year.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the sale, the vice president owned 481,676 shares in the company, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Torgow bought 14,200 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were bought at an average price of $17.81 per share, with a total value of $252,902.00. Following the purchase, the director owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 27,700 shares of company stock valued at $540,401 and have sold 108,986 shares valued at $1,785,958. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Huntington Bancshares by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares in the last quarter. State Street Corp boosted its holdings in shares of Huntington Bancshares by 4.7% during the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after acquiring an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after acquiring an additional 68,478,435 shares in the last quarter. Boston Partners boosted its holdings in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after acquiring an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after acquiring an additional 3,908,927 shares in the last quarter. 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.