Citigroup Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective lifted by analysts at Citigroup from $18.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Citigroup’s price objective suggests a potential upside of 20.21% from the stock’s current price.

HBAN has been the subject of a number of other reports. Barclays boosted 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 report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, October 18th. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Morgan Stanley increased their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Argus upped their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.26.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.47 on Tuesday. The business has a fifty day moving average of $15.58 and a 200 day moving average of $14.41. Huntington Bancshares has a 1 year low of $10.73 and a 1 year high of $17.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $25.38 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently bought and sold shares of HBAN. State Street Corp boosted its position in shares of Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Huntington Bancshares by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares in the last quarter. Boston Partners increased its stake in Huntington Bancshares by 20.4% in the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Huntington Bancshares by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after buying an additional 3,410,597 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.