Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $18.00 at Citigroup

Huntington Bancshares (NASDAQ:HBAN) had its target price cut by equities researchers at Citigroup from $20.00 to $18.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s target price would indicate a potential upside of 17.92% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. The Goldman Sachs Group increased their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Up 1.6 %

HBAN stock traded up $0.25 during mid-day trading on Monday, hitting $15.27. 3,190,709 shares of the company were exchanged, compared to its average volume of 16,287,934. The firm has a market cap of $22.30 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.33 and a beta of 1.07. Huntington Bancshares has a 1-year low of $12.05 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The firm’s 50 day simple moving average is $16.23 and its 200 day simple moving average is $16.13.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company posted $0.27 EPS. On average, sell-side analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. State Street Corp raised its position in shares of Huntington Bancshares by 10.3% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Huntington Bancshares by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 64,926,419 shares of the bank’s stock worth $1,056,353,000 after purchasing an additional 2,218,020 shares during the period. Invesco Ltd. boosted its stake in shares of Huntington Bancshares by 4.6% in the 4th quarter. Invesco Ltd. now owns 52,599,986 shares of the bank’s stock valued at $855,802,000 after purchasing an additional 2,310,502 shares during the last quarter. Geode Capital Management LLC raised its stake in Huntington Bancshares by 1.3% during the third 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 lifted its holdings in Huntington Bancshares by 36.9% in the fourth quarter. FMR LLC now owns 32,479,039 shares of the bank’s stock valued at $528,434,000 after buying an additional 8,759,871 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

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.