Evercore ISI Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $18.00

Huntington Bancshares (NASDAQ:HBAN) had its price target increased by analysts at Evercore ISI from $17.00 to $18.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore ISI’s price target points to a potential upside of 15.46% from the stock’s previous close.

HBAN has been the topic of several other reports. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Friday, October 18th. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $15.59 on Wednesday. Huntington Bancshares has a 12-month low of $9.49 and a 12-month high of $16.03. The stock has a market cap of $22.65 billion, a P/E ratio of 14.99, a PEG ratio of 3.21 and a beta of 1.04. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $14.85 and a two-hundred day moving average of $14.04.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the firm posted $0.36 EPS. As a group, research analysts predict that Huntington Bancshares will post 1.2 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. Asset Dedication LLC raised its position in 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 stake in shares of Huntington Bancshares during the 3rd quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the 3rd quarter worth approximately $31,000. Fortitude Family Office LLC purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. grew its position in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares in the last quarter. 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.