Truist Financial Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by equities researchers at Truist Financial from $19.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price target suggests a potential upside of 24.56% from the stock’s previous close.

A number of other research firms have also commented on HBAN. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Piper Sandler upped their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a 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 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Trading Down 1.4 %

HBAN opened at $16.86 on Tuesday. The business has a 50 day simple moving average of $17.02 and a two-hundred day simple moving average of $15.55. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating 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 business posted $0.27 earnings per share. Analysts predict that Huntington Bancshares will post 1.37 EPS for the current year.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, 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 disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Dedication LLC lifted its holdings in shares of Huntington Bancshares by 200.7% during 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 bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $31,000. Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. lifted its holdings in shares of Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after buying an additional 728 shares during the period. 80.72% of the stock is owned by institutional investors.

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.