Truist Financial Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

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

HBAN has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research report on Friday. Barclays lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Stephens upped their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Two investment 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 company’s stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $20.11.

Huntington Bancshares Trading Down 0.7%

NASDAQ:HBAN traded down $0.13 on Monday, hitting $17.23. The stock had a trading volume of 6,592,968 shares, compared to its average volume of 31,459,041. The company has a fifty day moving average price of $17.28 and a two-hundred day moving average price of $16.87. The stock has a market cap of $27.13 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.65 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $18.91.

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

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, Director John C. Inglis bought 6,506 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $15.30 per share, with a total value of $99,541.80. Following the transaction, the director owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. The trade was a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marcy C. Hingst sold 12,832 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction 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. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 97,863 shares of company stock worth $1,581,634 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HBAN. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. South Plains Financial Inc. grew its holdings in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares during the period. Accredited Wealth Management LLC lifted its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after acquiring an additional 1,322 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Huntington Bancshares during the 2nd quarter worth $30,000. Hedge funds and other institutional investors 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.