Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Truist Financial Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its price objective upped by equities researchers at Truist Financial from $19.00 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. Truist Financial’s price objective would suggest a potential upside of 24.56% from the company’s previous close.

A number of other analysts also recently issued reports on HBAN. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.86 on Tuesday. The business’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $15.55. The firm has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the company earned $0.27 EPS. As a group, analysts anticipate that Huntington Bancshares will post 1.37 EPS for the current year.

Insider Buying and Selling

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Huntington Bancshares by 48.1% during the fourth quarter. Pacer Advisors Inc. now owns 160,578 shares of the bank’s stock worth $2,613,000 after purchasing an additional 52,185 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Huntington Bancshares by 4.4% in the 4th quarter. Blue Trust Inc. now owns 21,887 shares of the bank’s stock valued at $356,000 after acquiring an additional 913 shares during the last quarter. Lantz Financial LLC lifted its stake in shares of Huntington Bancshares by 6.1% in the 4th quarter. Lantz Financial LLC now owns 13,766 shares of the bank’s stock valued at $224,000 after acquiring an additional 790 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Huntington Bancshares by 3.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 297,134 shares of the bank’s stock valued at $4,834,000 after acquiring an additional 10,191 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Huntington Bancshares by 10.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 280,709 shares of the bank’s stock valued at $4,567,000 after acquiring an additional 27,406 shares during the last quarter. 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.