Huntington Bancshares (NASDAQ:HBAN) Price Target Increased to $15.00 by Analysts at Piper Sandler

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by investment analysts at Piper Sandler from $14.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential downside of 1.96% from the company’s previous close.

Several other equities analysts also recently commented on the company. Citigroup raised their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Argus upped their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Finally, Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.79.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.13 on Friday, hitting $15.30. The company’s stock had a trading volume of 3,816,791 shares, compared to its average volume of 16,170,769. Huntington Bancshares has a one year low of $9.25 and a one year high of $16.03. The firm has a market cap of $22.17 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average price of $14.53 and a 200-day moving average price of $13.92.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts anticipate that Huntington Bancshares will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 116,622 shares of company stock worth $1,762,904 over the last three months. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the business. Asset Dedication LLC increased its position in shares of Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $29,000. Peoples Bank KS bought a new position in shares of Huntington Bancshares in the third quarter valued at $29,000. Hazlett Burt & Watson Inc. increased its holdings in Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after buying an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in Huntington Bancshares during the first quarter worth $40,000. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.