Huntington Bancshares Incorporated (NASDAQ:HBAN)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They currently have a $16.00 price objective on the bank’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 29.87% from the company’s previous close.

A number of other research firms have also weighed in on HBAN. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Instinet reissued a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and set a $14.25 price target (up from $13.75) on shares of Huntington Bancshares in a research report on Friday, July 7th. Finally, Hilliard Lyons raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $15.00 in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.96.

Huntington Bancshares (NASDAQ HBAN) opened at 12.32 on Friday. The firm has a market capitalization of $13.43 billion, a price-to-earnings ratio of 17.06 and a beta of 1.37. The stock’s 50 day moving average is $12.89 and its 200 day moving average is $13.18. Huntington Bancshares has a 1-year low of $9.52 and a 1-year high of $14.74.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.19 earnings per share. Analysts predict that Huntington Bancshares will post $0.92 EPS for the current fiscal year.

Huntington Bancshares declared that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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In other news, EVP Nicholas G. Stanutz sold 16,000 shares of Huntington Bancshares stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the completion of the transaction, the executive vice president now owns 447,722 shares in the company, valued at $5,690,546.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Neu bought 2,450 shares of Huntington Bancshares stock in a transaction dated Friday, July 28th. The stock was acquired at an average price of $13.10 per share, with a total value of $32,095.00. Following the purchase, the director now directly owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sun Life Financial INC increased its stake in shares of Huntington Bancshares by 99,812.5% in the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after purchasing an additional 7,985 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after purchasing an additional 7,521 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Huntington Bancshares in the second quarter worth about $134,000. Verition Fund Management LLC purchased a new position in shares of Huntington Bancshares in the second quarter worth about $139,000. Finally, Hartland & Co. LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth about $141,000. Hedge funds and other institutional investors own 74.16% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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