Citigroup Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its target price lifted by research analysts at Citigroup from $18.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Citigroup’s price objective suggests a potential upside of 19.39% from the stock’s current price.

Several other analysts have also recently issued reports on HBAN. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Barclays lifted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, July 26th. Finally, Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.26.

Huntington Bancshares Stock Down 1.2 %

HBAN stock traded down $0.21 during trading on Tuesday, hitting $17.59. 4,149,864 shares of the company’s stock were exchanged, compared to its average volume of 16,037,655. Huntington Bancshares has a 52-week low of $10.73 and a 52-week high of $17.97. 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 stock has a market capitalization of $25.55 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 3.53 and a beta of 1.03. The business has a 50-day moving average price of $15.45 and a two-hundred day moving average price of $14.36.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results 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 company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts expect that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Transactions at Huntington Bancshares

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

Institutional Trading of Huntington Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Huntington Bancshares by 10.3% in the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock worth $921,778,000 after buying an additional 1,522,767 shares during the last quarter. Boston Partners raised its holdings in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock valued at $540,422,000 after buying an additional 473,893 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Huntington Bancshares by 16.8% during the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the last quarter. 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.