Truist Financial Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by equities research analysts at Truist Financial from $20.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s target price would suggest a potential upside of 21.92% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday. Wall Street Zen lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Raymond James Financial boosted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday. Finally, Stephens increased their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

Huntington Bancshares Trading Down 0.7%

Shares of HBAN traded down $0.13 during mid-day trading on Monday, reaching $17.23. 6,592,968 shares of the company’s stock traded hands, compared to its average volume of 31,459,041. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The stock’s 50-day moving average is $17.28 and its two-hundred day moving average is $16.87. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.91. The stock has a market cap of $27.13 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.65 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Marcy C. Hingst sold 12,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $18.00, for a total value of $230,976.00. Following the sale, the executive vice president directly owned 239,473 shares in the company, valued at approximately $4,310,514. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Inglis acquired 6,506 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $15.30 per share, with a total value of $99,541.80. Following the purchase, the director owned 89,831 shares in the company, valued at $1,374,414.30. This represents a 7.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 97,863 shares of company stock valued at $1,581,634 in the last three months. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of Huntington Bancshares by 26.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 167,515 shares of the bank’s stock worth $2,808,000 after purchasing an additional 35,014 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Huntington Bancshares by 59.2% during the second quarter. FineMark National Bank & Trust now owns 175,144 shares of the bank’s stock worth $2,935,000 after buying an additional 65,144 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at about $3,746,000. Commerzbank Aktiengesellschaft FI boosted its position in Huntington Bancshares by 43.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 94,979 shares of the bank’s stock worth $1,592,000 after acquiring an additional 28,739 shares during the last quarter. Finally, Shoker Investment Counsel Inc. raised its holdings in Huntington Bancshares by 1,706.3% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 200,566 shares of the bank’s stock valued at $3,361,000 after acquiring an additional 189,462 shares during the last quarter. Institutional investors and hedge funds 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.