Huntington Bancshares (NASDAQ:HBAN) Stock Price Target Cut by Argus

Huntington Bancshares (NASDAQ:HBAN) had its price target reduced by analysts at Argus from $20.00 to $18.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Argus‘s price objective would suggest a potential upside of 16.35% from the company’s previous close.

HBAN has been the subject of several other research reports. Bank of America lowered shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $18.50 in a report on Monday, July 27th. UBS Group set a $18.00 target price on Huntington Bancshares in a research note on Tuesday, October 6th. Evercore dropped their price target on Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. Wells Fargo & Company cut their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Finally, Robert W. Baird decreased their price objective on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.89.

Huntington Bancshares Trading Down 0.9%

HBAN traded down $0.14 during midday trading on Thursday, reaching $15.47. 16,741,878 shares of the company were exchanged, compared to its average volume of 24,121,714. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. Huntington Bancshares has a one year low of $14.82 and a one year high of $19.45. The stock has a market capitalization of $31.26 billion, a P/E ratio of 12.79, a PEG ratio of 1.03 and a beta of 0.97. The stock’s 50-day simple moving average is $15.84 and its 200 day simple moving average is $16.65.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period in the previous year, the company earned $0.41 EPS. As a group, analysts forecast that Huntington Bancshares will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James D. Rollins III purchased 14,000 shares of the company’s stock in a transaction on Monday, October 26th. The shares were purchased at an average price of $18.12 per share, with a total value of $253,680.00. Following the purchase, the director directly owned 15,500 shares of the company’s stock, valued at $280,860. This trade represents a 933.33% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Torgow purchased 12,700 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was purchased at an average price of $15.73 per share, for a total transaction of $199,771.00. Following the completion of the acquisition, the director owned 956,041 shares of the company’s stock, valued at approximately $15,038,524.93. This represents a 1.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HBAN. Henrickson Nauta Wealth Advisors Inc. lifted its stake in Huntington Bancshares by 6.1% in the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 10,613 shares of the bank’s stock valued at $190,000 after acquiring an additional 608 shares in the last quarter. Vestor Capital LLC lifted its position in shares of Huntington Bancshares by 13.0% in the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock worth $88,000 after purchasing an additional 648 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Huntington Bancshares by 5.9% in the second quarter. Rehmann Capital Advisory Group now owns 12,151 shares of the bank’s stock worth $215,000 after purchasing an additional 679 shares in the last quarter. Johnson Financial Group Inc. lifted its position in shares of Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank’s stock worth $34,000 after purchasing an additional 707 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Huntington Bancshares by 10.1% during the third quarter. Versant Capital Management Inc now owns 7,693 shares of the bank’s stock worth $117,000 after purchasing an additional 708 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer and commercial banking services to individuals, businesses, and institutions. The company traces its roots to 1866, when P.W. Huntington & Company opened in Columbus.

Huntington’s offerings include checking and savings accounts, credit cards, mortgages, auto loans, business lending, treasury management, wealth management, and investment services.