Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $16.00 at Evercore ISI

Huntington Bancshares (NASDAQ:HBAN) had its price target raised by analysts at Evercore ISI from $15.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Evercore ISI’s target price suggests a potential upside of 15.36% from the company’s current price.

A number of other brokerages also recently commented on HBAN. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. Citigroup boosted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares from $12.50 to $14.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Finally, UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.72.

Huntington Bancshares Price Performance

HBAN traded up $0.08 on Thursday, reaching $13.87. 4,812,480 shares of the company’s stock were exchanged, compared to its average volume of 17,622,324. The stock has a market cap of $20.11 billion, a PE ratio of 11.16 and a beta of 1.09. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $13.89. The stock’s fifty day moving average price is $12.98 and its 200-day moving average price is $11.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts expect that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,241 shares of company stock worth $1,360,359. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Huntington Bancshares by 1.6% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock valued at $712,000 after purchasing an additional 830 shares during the period. Guardian Wealth Management Inc. lifted its stake in shares of Huntington Bancshares by 3.5% in the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after purchasing an additional 835 shares during the period. Mather Group LLC. lifted its stake in shares of Huntington Bancshares by 5.8% in the fourth quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock valued at $196,000 after purchasing an additional 837 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Huntington Bancshares by 5.9% in the fourth quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock valued at $195,000 after purchasing an additional 856 shares during the period. Finally, Buckingham Strategic Wealth LLC lifted its stake in shares of Huntington Bancshares by 5.6% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock valued at $206,000 after purchasing an additional 864 shares during the period. Institutional investors and hedge funds 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.