Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $19.00 at Evercore

Huntington Bancshares (NASDAQ:HBAN) had its price target dropped by Evercore from $21.00 to $19.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore’s target price indicates a potential upside of 19.93% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. DA Davidson reduced their price target on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. Piper Sandler raised their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Argus upped their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, UBS Group set a $21.00 price target on Huntington Bancshares in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $20.33.

Huntington Bancshares Stock Up 0.3%

HBAN stock traded up $0.05 during trading hours on Monday, hitting $15.84. The company’s stock had a trading volume of 691,662 shares, compared to its average volume of 33,868,184. The stock has a 50 day moving average price of $16.75 and a two-hundred day moving average price of $16.78. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a market capitalization of $32.27 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the prior year, the business posted $0.34 EPS. On average, equities research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current year.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III bought 1,127 shares of the stock in a transaction on Monday, March 9th. The shares were purchased at an average price of $25.39 per share, with a total value of $28,614.53. Following the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at $101,560. This represents a 39.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the transaction, the vice president owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. Altrius Capital Management Inc bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $4,894,000. Vanguard Group Inc. lifted its position in Huntington Bancshares by 0.4% in the third quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the period. Midwest Trust Co lifted its position in Huntington Bancshares by 12.7% in the third quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock worth $26,095,000 after purchasing an additional 170,240 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Huntington Bancshares during the third quarter worth $3,746,000. Finally, JPMorgan Chase & Co. increased its holdings in Huntington Bancshares by 3.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock valued at $159,543,000 after buying an additional 314,544 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.