Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by Jefferies Financial Group from $19.00 to $20.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price target suggests a potential upside of 22.96% from the company’s current price.

Several other equities analysts also recently weighed in on HBAN. Keefe, Bruyette & Woods increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Stephens upped their price objective on shares of Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Finally, Cowen reiterated a “buy” rating on shares of Huntington Bancshares in a report on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $19.69.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $16.27 on Monday. Huntington Bancshares has a 1 year low of $11.91 and a 1 year high of $18.13. The company’s 50 day simple moving average is $16.09 and its 200 day simple moving average is $16.46. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Monday, December 1st. The bank reported $0.67 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $580.00 million during the quarter. On average, sell-side analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 6,416 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $15.65, for a total transaction of $100,410.40. Following the sale, the executive vice president directly owned 252,305 shares in the company, valued at approximately $3,948,573.25. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 64,587 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider directly owned 534,640 shares in the company, valued at $8,222,763.20. This trade represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 112,103 shares of company stock worth $1,833,558. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently made changes to their positions in HBAN. Family Legacy Financial Solutions LLC purchased a new position in Huntington Bancshares in the second quarter valued at about $25,000. MTM Investment Management LLC acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth approximately $26,000. South Plains Financial Inc. increased its stake in shares of Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares during the last quarter. Finally, Quarry LP raised its holdings in Huntington Bancshares by 73.0% in the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after acquiring an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.