Huntington Bancshares (NASDAQ:HBAN) Earns “Equal Weight” Rating from Stephens

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “equal weight” rating restated by research analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $18.50 target price on the bank’s stock. Stephens’ target price indicates a potential upside of 8.54% from the stock’s previous close.

A number of other equities research analysts have also recently commented on HBAN. Piper Sandler lowered their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday. Finally, Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday. One investment 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 company has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Up 0.2 %

HBAN stock traded up $0.04 during trading on Tuesday, reaching $17.05. The stock had a trading volume of 6,680,979 shares, compared to its average volume of 17,641,141. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.65 and a beta of 1.07. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.44. The company’s 50 day moving average is $17.05 and its two-hundred day moving average is $15.51.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (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 last year, the firm earned $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.36 EPS for the current year.

Insider Activity at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 in the last ninety days. 0.92% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arvest Bank Trust Division bought a new stake in Huntington Bancshares during the third quarter worth about $2,381,000. Heritage Wealth Management Inc. purchased a new position in Huntington Bancshares in the 2nd quarter worth about $744,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Huntington Bancshares by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Petiole USA ltd bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at $3,454,000. Finally, Franklin Resources Inc. boosted its position in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock worth $27,901,000 after purchasing an additional 55,602 shares during the last quarter. 80.72% of the stock is currently 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.