Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $22.00 at UBS Group

Huntington Bancshares (NASDAQ:HBAN) had its price objective boosted by analysts at UBS Group from $21.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. UBS Group’s price objective would indicate a potential upside of 22.12% from the company’s current price.

Several other equities research analysts also recently issued reports on HBAN. The Goldman Sachs Group lowered their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. JPMorgan Chase & Co. lifted their price objective on Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a report on Monday. Stephens assumed coverage on Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price for the company. Morgan Stanley raised their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Truist Financial cut their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Huntington Bancshares Trading Up 0.7%

HBAN opened at $18.02 on Tuesday. The firm’s fifty day moving average is $16.62 and its two-hundred day moving average is $16.90. The firm has a market cap of $36.52 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares has a twelve month low of $14.89 and a twelve month high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business earned $0.34 EPS. Equities research analysts anticipate that Huntington Bancshares will post 1.62 EPS for the current year.

Insider Activity at Huntington Bancshares

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after acquiring an additional 104,965 shares during the period. KBC Group NV boosted its stake in Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock valued at $48,941,000 after purchasing an additional 395,489 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock valued at $1,500,000 after buying an additional 75,516 shares in the last quarter. Hsbc Holdings PLC increased its position in Huntington Bancshares by 25.4% during 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 period. Finally, SageView Advisory Group LLC acquired a new stake in shares of Huntington Bancshares during the third quarter worth $2,163,000. 80.72% of the stock is currently owned by institutional investors.

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.