Huntington Bancshares (NASDAQ:HBAN) Given New $23.00 Price Target at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price objective hoisted by investment analysts at Morgan Stanley from $21.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price target indicates a potential upside of 35.33% from the stock’s current price.

A number of other equities research analysts have also issued reports on HBAN. Wolfe Research reissued an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Wednesday, January 7th. Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. Finally, UBS Group set a $21.00 target price on Huntington Bancshares in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.69.

Huntington Bancshares Price Performance

NASDAQ:HBAN traded up $0.20 during trading hours on Monday, hitting $17.00. 7,033,245 shares of the stock were exchanged, compared to its average volume of 37,230,137. The firm’s fifty day moving average price is $17.81 and its 200 day moving average price 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 cap of $34.50 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.68 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly 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). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 5,830 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total transaction of $111,586.20. Following the sale, the vice president directly owned 327,676 shares of the company’s stock, valued at $6,271,718.64. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the transaction, the vice president owned 42,398 shares of the company’s stock, valued at approximately $802,594.14. This trade represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 50,145 shares of company stock valued at $929,885. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HBAN. Sagespring Wealth Partners LLC boosted its stake in shares of Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after buying an additional 587 shares during the period. MCF Advisors LLC lifted its stake in Huntington Bancshares by 12.6% in the fourth quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock worth $95,000 after acquiring an additional 609 shares during the last quarter. Parcion Private Wealth LLC grew its holdings in Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after acquiring an additional 648 shares in 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 purchasing an additional 670 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Huntington Bancshares by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after purchasing an additional 694 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

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.