Huntington Bancshares (NASDAQ:HBAN) Sets New 12-Month High – Here’s What Happened

Huntington Bancshares Incorporated (NASDAQ:HBAN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.65 and last traded at $18.6650, with a volume of 5987075 shares trading hands. The stock had previously closed at $17.99.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Wolfe Research reiterated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, January 7th. Stephens raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.08.

Huntington Bancshares Trading Up 3.4%

The firm’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $16.87. The stock has a market capitalization of $29.28 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.67 and a beta of 0.95. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Monday, December 1st. The bank reported $0.67 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $580.00 million for the quarter. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the sale, the executive vice president owned 239,473 shares in the company, valued at approximately $4,310,514. The trade was a 5.09% 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 Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider directly owned 155,634 shares in the company, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,863 shares of company stock worth $1,581,634 in the last quarter. Insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its holdings in Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after acquiring an additional 1,366 shares during the last quarter. Woodline Partners LP increased its stake in Huntington Bancshares by 40.8% in the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after buying an additional 35,574 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Huntington Bancshares by 6.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 342,709 shares of the bank’s stock worth $6,011,000 after buying an additional 21,224 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Huntington Bancshares by 2.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 29,032 shares of the bank’s stock worth $487,000 after buying an additional 731 shares during the last quarter. Finally, Sowell Financial Services LLC grew its holdings in shares of Huntington Bancshares by 29.0% in the second quarter. Sowell Financial Services LLC now owns 57,704 shares of the bank’s stock valued at $967,000 after acquiring an additional 12,962 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.