Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $17.00 by Analysts at Piper Sandler

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by research analysts at Piper Sandler from $17.50 to $17.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Piper Sandler’s price target suggests a potential downside of 0.26% from the stock’s previous close.

HBAN has been the topic of several other research reports. Barclays boosted their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. DA Davidson boosted their price target on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised their price objective on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Trading Up 0.2 %

Shares of NASDAQ HBAN traded up $0.04 during trading on Tuesday, reaching $17.05. The company had a trading volume of 6,680,979 shares, compared to its average volume of 17,641,141. The stock has a market cap of $24.76 billion, a P/E ratio of 13.85, a PEG ratio of 2.65 and a beta of 1.07. The company’s fifty day moving average price is $17.05 and its 200-day moving average price is $15.51. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results 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 return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the firm earned $0.27 EPS. As a group, research analysts expect that Huntington Bancshares will post 1.36 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction on 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 directly owns 496,076 shares in the company, 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 filing with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in HBAN. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS purchased a new position in Huntington Bancshares in the 3rd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth $32,000. Finally, UMB Bank n.a. boosted its holdings in shares of Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.