Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $21.00 at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price objective decreased by research analysts at Morgan Stanley from $23.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s target price would suggest a potential upside of 34.51% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Piper Sandler increased their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Barclays raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Evercore started coverage on Huntington Bancshares in a report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.53.

Huntington Bancshares Stock Up 3.9%

NASDAQ HBAN traded up $0.59 on Tuesday, reaching $15.61. The company had a trading volume of 17,749,197 shares, compared to its average volume of 34,488,395. The company’s fifty day moving average is $16.92 and its 200-day moving average is $16.84. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $19.45. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period in the prior year, the company earned $0.34 earnings per share. On average, research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James D. Rollins III bought 1,127 shares of Huntington Bancshares stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $25.39 per share, with a total value of $28,614.53. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $101,560. This represents a 39.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the completion of the transaction, the vice president directly owned 481,676 shares in the company, valued at approximately $7,360,009.28. This represents a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after purchasing an additional 14,338,222 shares during the period. State Street Corp increased its holdings in Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after buying an additional 3,438,501 shares during the period. Wellington Management Group LLP raised its position in shares of Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares in the last quarter. Boston Partners raised its position in shares of Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after acquiring an additional 3,908,927 shares during the period. 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.