Huntington Bancshares (NASDAQ:HBAN) Receives Outperform Rating from Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 price objective on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 22.55% from the company’s current price.

Several other brokerages have also recently weighed in on HBAN. Barclays upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.41.

Huntington Bancshares Trading Up 2.6 %

HBAN opened at $16.32 on Monday. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. 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 $23.71 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 3.47 and a beta of 1.06. The stock’s 50 day moving average price is $16.80 and its 200-day moving average price is $14.96.

Huntington Bancshares (NASDAQ:HBAN) last issued 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. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the company posted $0.36 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other news, 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 value of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Dedication LLC lifted its holdings in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS purchased a new stake in Huntington Bancshares in the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. grew its stake in shares of Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $32,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.