The Goldman Sachs Group Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective increased by research analysts at The Goldman Sachs Group from $16.25 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 9.89% from the stock’s current price.

HBAN has been the subject of a number of other reports. Barclays raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley raised their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Piper Sandler upped their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $16.62.

Huntington Bancshares Trading Up 1.7 %

NASDAQ:HBAN opened at $18.20 on Tuesday. The business’s 50-day moving average is $15.79 and its two-hundred day moving average is $14.50. The firm has a market capitalization of $26.44 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. Huntington Bancshares has a 12 month low of $10.73 and a 12 month high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the company posted $0.36 EPS. Research analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HBAN. WealthShield Partners LLC boosted its holdings in shares of Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares in the last quarter. UMB Bank n.a. increased its position in shares of Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after buying an additional 744 shares in the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of Huntington Bancshares by 2.5% in the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after buying an additional 762 shares during the period. Finally, TCW Group Inc. boosted its stake in Huntington Bancshares by 4.1% during the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock valued at $267,000 after buying an additional 794 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.