DA Davidson Raises Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.50

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by DA Davidson from $16.50 to $17.50 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. DA Davidson’s price target would suggest a potential upside of 14.38% from the company’s previous close.

Several other brokerages also recently issued reports on HBAN. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Piper Sandler lifted their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday. Evercore ISI dropped their price target on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Citigroup lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.03.

Huntington Bancshares Stock Down 0.4 %

HBAN stock traded down $0.06 during mid-day trading on Monday, reaching $15.30. The company had a trading volume of 3,481,879 shares, compared to its average volume of 16,197,617. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $16.03. The stock has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $13.93. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during 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 period last year, the business earned $0.36 earnings per share. As a group, equities analysts predict that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, the insider now owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Asset Dedication LLC lifted its position in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying 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 stake in shares of Huntington Bancshares during the 3rd quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. increased its position in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new position in Huntington Bancshares in the 1st quarter valued at approximately $40,000. Institutional investors 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.