Truist Financial Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price target upped by research analysts at Truist Financial from $19.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Truist Financial’s price objective points to a potential upside of 22.77% from the company’s previous close.

HBAN has been the topic of a number of other research reports. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Keefe, Bruyette & Woods lifted their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

Huntington Bancshares Stock Performance

HBAN stock traded up $0.10 during mid-day trading on Tuesday, reaching $17.11. The company had a trading volume of 6,070,725 shares, compared to its average volume of 17,611,430. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $24.85 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.65 and a beta of 1.07. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.44. The stock’s 50-day simple moving average is $17.05 and its two-hundred day simple moving average is $15.51.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same quarter last year, the business earned $0.27 EPS. Research analysts anticipate that Huntington Bancshares will post 1.36 EPS for the current year.

Insider Activity

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,699 shares of company stock worth $757,356. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently bought and sold shares of HBAN. Asset Dedication LLC boosted its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in Huntington Bancshares in the third quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares in the third quarter worth $31,000. Fortitude Family Office LLC acquired a new position in Huntington Bancshares in the third quarter worth $32,000. Finally, UMB Bank n.a. boosted its stake in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 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.