Huntington Bancshares (NASDAQ:HBAN) Given New $15.00 Price Target at Jefferies Financial Group

Huntington Bancshares (NASDAQ:HBAN) had its price target lowered by analysts at Jefferies Financial Group from $16.00 to $15.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price target suggests a potential upside of 14.50% from the company’s previous close.

Several other brokerages have also issued reports on HBAN. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Evercore ISI reduced their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler downgraded shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.97.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock traded down $0.11 during trading on Wednesday, reaching $13.10. The company’s stock had a trading volume of 4,785,249 shares, compared to its average volume of 16,967,186. Huntington Bancshares has a one year low of $9.25 and a one year high of $14.30. The stock has a 50-day moving average price of $13.40 and a two-hundred day moving average price of $13.16. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $18.99 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the sale, the insider now directly owns 65,195 shares in the company, valued at $902,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 7,278 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. In the last three months, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in shares of Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after purchasing an additional 780 shares during the period. Park Avenue Securities LLC lifted its position in shares of Huntington Bancshares by 1.3% in the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after buying an additional 794 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Huntington Bancshares by 6.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock worth $185,000 after acquiring an additional 805 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Huntington Bancshares by 4.7% during the 1st quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock worth $250,000 after acquiring an additional 811 shares during the last quarter. Finally, Mather Group LLC. raised its stake in Huntington Bancshares by 5.8% in the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock valued at $196,000 after acquiring an additional 837 shares during the period. 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.