Huntington Bancshares’ (HBAN) Outperform Rating Reiterated at Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 target price on the bank’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 21.51% from the stock’s previous close.

HBAN has been the topic of several other reports. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Piper Sandler upped their price target on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Barclays lifted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Huntington Bancshares Stock Up 1.1 %

Huntington Bancshares stock opened at $16.46 on Monday. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. The stock has a fifty day moving average of $16.84 and a 200 day moving average of $15.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $23.91 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts predict that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,699 shares of company stock worth $757,356 in the last three months. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arvest Bank Trust Division purchased a new position in Huntington Bancshares in the 3rd quarter worth about $2,381,000. Heritage Wealth Management Inc. purchased a new position in shares of Huntington Bancshares during the second quarter worth approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after acquiring an additional 44,662 shares during the period. Petiole USA ltd purchased a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $3,454,000. Finally, Franklin Resources Inc. grew its stake in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after purchasing an additional 55,602 shares in the last quarter. Hedge funds and other 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.