Investment analysts at ISI Group initiated coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $9.00 price target on the stock. ISI Group’s target price suggests a potential upside of 8.96% from the company’s current price.
The analysts wrote, “We are initiating coverage of Huntington with a Neutral rating and 12-month price target of $9. Huntington shares don’t look expensive on a PE basis (at a little less than 11x our 2015E EPS) but they also don’t look overly cheap in our opinion (the stock falls right on or ROTE/PTVB regression line), so they are stuck in the middle. On the positive side, we think HBAN will likely post healthy 3Q loan growth given growth in auto loans and management’s choice to put these on the balance sheet as opposed to securitizing them. That said, we think expenses will be elevated in the near term and likely limit much EPS improvement. We see limited upside in HBAN over the next 12 months.”
Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 0.79% during mid-day trading on Tuesday, hitting $8.195. 4,834,323 shares of the company’s stock traded hands. Huntington Bancshares has a 52-week low of $5.81 and a 52-week high of $8.78. The stock’s 50-day moving average is $8.41 and its 200-day moving average is $7.94. The company has a market cap of $6.799 billion and a price-to-earnings ratio of 11.54.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $680.20 million for the quarter, compared to the consensus estimate of $684.15 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “hold” rating on shares of Huntington Bancshares in a research note to investors on Monday, September 30th. They now have a $9.00 price target on the stock. Separately, analysts at Guggenheim cut their price target on shares of Huntington Bancshares from $9.50 to $9.00 in a research note to investors on Monday, September 30th. They now have a “neutral” rating on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research note to investors on Monday, September 2nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.20.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a multi-state diversified regional bank holding company.
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