Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Barclays Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by analysts at Barclays from $17.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 13.64% from the company’s previous close.

Several other equities analysts have also issued reports on HBAN. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson lifted their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.69.

Huntington Bancshares Stock Up 1.6 %

Shares of HBAN traded up $0.27 on Monday, reaching $16.72. The stock had a trading volume of 8,794,082 shares, compared to its average volume of 14,389,344. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The company has a 50-day simple moving average of $16.98 and a 200-day simple moving average of $15.23. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the business posted $0.36 EPS. Sell-side analysts predict that Huntington Bancshares will post 1.22 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Asset Dedication LLC grew its holdings in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares during the third quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 3rd quarter worth $31,000. Fortitude Family Office LLC purchased a new stake in Huntington Bancshares in the 3rd quarter worth $32,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.