Huntington Bancshares (NASDAQ:HBAN) Given New $21.00 Price Target at Jefferies Financial Group

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by equities researchers at Jefferies Financial Group from $22.00 to $21.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 25.60% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Piper Sandler raised their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Thursday, January 22nd. Raymond James Financial upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Finally, 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 research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $16.72 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average is $17.75 and its two-hundred day moving average is $17.08. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $19.45. The company has a market capitalization of $33.94 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

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

Insider Activity

In other news, Director Gary Torgow bought 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average price of $17.81 per share, with a total value of $252,902.00. Following the completion of the transaction, the director directly owned 943,341 shares of the company’s stock, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 26,488 shares of company stock worth $510,286 and have sold 50,145 shares worth $929,885. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Sagespring Wealth Partners LLC grew its position in Huntington Bancshares by 2.4% during the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after purchasing an additional 587 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Huntington Bancshares by 12.6% during the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock worth $95,000 after buying an additional 609 shares during the period. Parcion Private Wealth LLC grew its holdings in shares of Huntington Bancshares by 6.2% during the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after buying an additional 648 shares during the last quarter. Strategic Planning Inc. increased its position in shares of Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after acquiring an additional 670 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in Huntington Bancshares by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after acquiring an additional 694 shares during the last quarter. Institutional investors and hedge funds 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.