Evercore ISI Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by analysts at Evercore ISI from $17.50 to $17.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Evercore ISI’s target price would indicate a potential upside of 19.97% from the stock’s current price.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Argus increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America boosted their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Piper Sandler increased their price target on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $15.71.

Huntington Bancshares Trading Down 0.3 %

HBAN opened at $14.17 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company’s 50 day moving average price is $14.35 and its two-hundred day moving average price is $13.80. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 3.07 and a beta of 1.04.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, research analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now owns 11,111 shares in the company, valued at $167,331.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of Huntington Bancshares by 38.7% in the 4th quarter. Parallel Advisors LLC now owns 7,542 shares of the bank’s stock worth $96,000 after buying an additional 2,105 shares during the last quarter. TD Asset Management Inc boosted its position in Huntington Bancshares by 5.1% in the fourth quarter. TD Asset Management Inc now owns 521,823 shares of the bank’s stock worth $6,638,000 after purchasing an additional 25,142 shares during the last quarter. California State Teachers Retirement System boosted its position in Huntington Bancshares by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 2,282,209 shares of the bank’s stock worth $29,030,000 after purchasing an additional 29,475 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Huntington Bancshares in the 4th quarter valued at $468,000. Finally, NEOS Investment Management LLC increased its position in shares of Huntington Bancshares by 31.2% during the 4th quarter. NEOS Investment Management LLC now owns 20,547 shares of the bank’s stock valued at $261,000 after purchasing an additional 4,887 shares during the last quarter. 80.72% of the stock is owned by 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.