Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective hoisted by investment analysts at Royal Bank Of Canada from $20.00 to $21.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the bank’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 17.22% from the company’s current price.

A number of other brokerages have also weighed in on HBAN. JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Stephens began coverage on Huntington Bancshares in a research report on Monday, June 15th. They set an “equal weight” rating and a $19.00 price target for the company. The Goldman Sachs Group dropped their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings lowered Huntington Bancshares from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.15.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock traded up $0.18 during midday trading on Wednesday, hitting $17.91. The company had a trading volume of 2,350,195 shares, compared to its average volume of 28,107,164. The company has a fifty day simple moving average of $16.54 and a 200 day simple moving average of $16.89. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.81 and a beta of 0.94. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a 12-month low of $14.89 and a 12-month high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts predict that Huntington Bancshares will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares of the company’s stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders acquired 33,500 shares of company stock worth $617,542. Insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

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