Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated at Stephens

Analysts at Stephens started coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note issued on Monday. The brokerage set an “equal weight” rating on the bank’s stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler upgraded Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price target on the stock in a research report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Huntington Bancshares from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Truist Financial decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 13th. Barclays cut shares of Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Wolfe Research decreased their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $20.10.

Huntington Bancshares Stock Performance

HBAN stock traded down $0.11 during mid-day trading on Monday, hitting $17.42. The company had a trading volume of 8,630,662 shares, compared to its average volume of 28,738,625. The firm has a market cap of $35.30 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a 12 month low of $14.89 and a 12 month high of $19.45. The stock’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $16.84.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, analysts forecast that Huntington Bancshares will post 1.61 earnings per share for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, Director James D. Rollins III acquired 11,127 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $16.50 per share, with a total value of $183,595.50. Following the completion of the acquisition, the director owned 11,127 shares in the company, valued at $183,595.50. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 33,500 shares of company stock valued at $617,542 over the last quarter. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently added to or reduced their stakes in the company. Curry Webb Wealth Management LLC purchased a new position in Huntington Bancshares during the first quarter valued at approximately $3,204,000. Carlson Capital L.P. lifted its position in shares of Huntington Bancshares by 153.3% in the first quarter. Carlson Capital L.P. now owns 284,482 shares of the bank’s stock valued at $4,452,000 after acquiring an additional 172,182 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Huntington Bancshares by 3.9% in the first quarter. Glenmede Trust Co. NA now owns 80,114 shares of the bank’s stock valued at $1,254,000 after acquiring an additional 2,986 shares in the last quarter. Vestor Capital LLC lifted its position in shares of Huntington Bancshares by 13.0% in the first quarter. Vestor Capital LLC now owns 5,636 shares of the bank’s stock valued at $88,000 after acquiring an additional 648 shares in the last quarter. Finally, Norris Financial Group LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at about $298,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.