Wolfe Research Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective reduced by analysts at Wolfe Research from $21.00 to $19.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the bank’s stock. Wolfe Research’s price target suggests a potential upside of 19.38% from the stock’s previous close.

HBAN has been the subject of a number of other research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Monday, January 12th. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Barclays lifted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Argus raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.43.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded up $0.27 during mid-day trading on Wednesday, hitting $15.92. The stock had a trading volume of 2,776,986 shares, compared to its average volume of 34,191,070. The firm has a market cap of $32.42 billion, a PE ratio of 11.48, a PEG 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. The company has a 50 day moving average of $16.88 and a two-hundred day moving average of $16.82. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 firm posted $0.34 EPS. Research analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider owned 83,819 shares in the company, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction on Tuesday, February 10th. The shares were 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 directly owned 42,398 shares of the company’s stock, valued at $802,594.14. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have bought 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Hsbc Holdings PLC boosted its holdings in Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock worth $141,625,000 after buying an additional 1,652,464 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Huntington Bancshares by 7.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 157,998 shares of the bank’s stock valued at $2,741,000 after acquiring an additional 11,363 shares during the last quarter. Fund Advisors of America Inc FL acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $222,000. World Investment Advisors lifted its position in shares of Huntington Bancshares by 8.8% in the fourth quarter. World Investment Advisors now owns 23,076 shares of the bank’s stock valued at $400,000 after acquiring an additional 1,870 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Huntington Bancshares by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 755,843 shares of the bank’s stock worth $13,115,000 after acquiring an additional 43,618 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

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.