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

Huntington Bancshares (NASDAQ:HBAN) had its target price lifted by investment analysts at Citigroup from $18.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Citigroup’s target price indicates a potential upside of 20.21% from the stock’s current price.

HBAN has been the topic of several other research reports. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Barclays boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Bank of America raised their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Piper Sandler boosted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Finally, Argus raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $16.26.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.47 on Tuesday. The stock has a 50-day simple moving average of $15.58 and a two-hundred day simple moving average of $14.41. The firm has a market capitalization of $25.38 billion, a PE ratio of 16.80, a P/E/G ratio of 3.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a 52-week low of $10.73 and a 52-week high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the firm earned $0.36 EPS. Analysts forecast that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock valued at $757,356 over the last three months. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in the company. Asset Dedication LLC grew its position in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the third quarter worth $29,000. Hazlett Burt & Watson Inc. increased its position in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter worth $32,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Company Profile

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.