Huntington Bancshares (NASDAQ:HBAN) Given New $20.00 Price Target at Royal Bank Of Canada

Huntington Bancshares (NASDAQ:HBAN) had its price objective reduced by analysts at Royal Bank Of Canada from $21.00 to $20.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the bank’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 25.82% from the stock’s current price.

HBAN has been the topic of several other research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler boosted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Raymond James Financial boosted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.13.

Huntington Bancshares Trading Down 0.3%

Shares of Huntington Bancshares stock opened at $15.90 on Tuesday. The company’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $16.77. The stock has a market capitalization of $32.38 billion, a PE ratio of 11.41, a P/E/G ratio of 0.64 and a beta of 0.95. Huntington Bancshares has a 1-year low of $12.08 and a 1-year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last released its 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). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the firm posted $0.34 EPS. As a group, equities analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In related news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the sale, the insider owned 155,634 shares of the company’s stock, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 65,530 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president directly owned 481,676 shares of the company’s stock, valued at $7,360,009.28. The trade was a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. 0.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently modified their holdings of HBAN. Empowered Funds LLC grew its position in shares of Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after acquiring an additional 1,366 shares during the period. Woodline Partners LP grew its position in shares of Huntington Bancshares by 40.8% in the first quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Huntington Bancshares by 32.0% in the second quarter. EverSource Wealth Advisors LLC now owns 23,328 shares of the bank’s stock valued at $391,000 after purchasing an additional 5,655 shares during the period. Brown Advisory Inc. grew its position in shares of Huntington Bancshares by 8.3% in the second quarter. Brown Advisory Inc. now owns 39,490 shares of the bank’s stock valued at $662,000 after purchasing an additional 3,023 shares during the period. Finally, StoneX Group Inc. grew its position in shares of Huntington Bancshares by 55.1% in the second quarter. StoneX Group Inc. now owns 18,706 shares of the bank’s stock valued at $315,000 after purchasing an additional 6,644 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.