Huntington Bancshares’ (HBAN) Equal Weight Rating Reaffirmed at Stephens

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “equal weight” rating reissued by investment analysts at Stephens in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $18.50 price objective on the bank’s stock. Stephens’ target price would suggest a potential upside of 9.31% from the stock’s current price.

Several other research analysts have also recently issued reports on HBAN. Keefe, Bruyette & Woods increased their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Trading Down 1.4 %

HBAN stock traded down $0.24 during midday trading on Friday, reaching $16.93. 9,821,811 shares of the company traded hands, compared to its average volume of 19,408,822. Huntington Bancshares has a 52-week low of $12.05 and a 52-week high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The business has a 50 day moving average of $16.87 and a 200-day moving average of $15.79. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping 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 prior year, the business earned $0.27 EPS. As a group, sell-side analysts expect that Huntington Bancshares will post 1.4 earnings per share for the current fiscal 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Arvest Bank Trust Division bought a new stake in shares of Huntington Bancshares during the 3rd quarter worth $2,381,000. Mediolanum International Funds Ltd bought a new stake in Huntington Bancshares in the 4th quarter valued at $422,000. Donoghue Forlines LLC bought a new stake in Huntington Bancshares in the 4th quarter valued at $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Huntington Bancshares by 5.6% in the 3rd 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 period. Finally, Petiole USA ltd bought a new stake in Huntington Bancshares in the 3rd quarter valued at $3,454,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.