Huntington Bancshares (NASDAQ:HBAN) Stock Price Target Cut by Argus

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by research analysts at Argus from $20.00 to $18.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Argus‘s price target would suggest a potential upside of 11.49% from the stock’s current price.

Several other equities analysts also recently issued reports on HBAN. Robert W. Baird reduced their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. Jefferies Financial Group dropped their price objective on shares of Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Citigroup cut their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $17.50 to $18.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Stephens reduced their target price on shares of Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

Huntington Bancshares Stock Performance

NASDAQ:HBAN traded up $0.09 during midday trading on Thursday, reaching $16.14. 2,120,624 shares of the company traded hands, compared to its average volume of 26,900,350. Huntington Bancshares has a twelve month low of $14.82 and a twelve month high of $19.45. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The company has a fifty day moving average price of $15.90 and a 200 day moving average price of $16.68.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business earned $0.41 EPS. On average, analysts expect that Huntington Bancshares will post 1.54 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In other news, SVP Donnell R. White sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $15.87, for a total transaction of $47,610.00. Following the transaction, the senior vice president directly owned 23,697 shares of the company’s stock, valued at approximately $376,071.39. This trade represents a 11.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James D. Rollins III acquired 14,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the completion of the purchase, the director owned 15,500 shares of the company’s stock, valued at approximately $280,860. This represents a 933.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of HBAN. TD Waterhouse Canada Inc. lifted its stake in shares of Huntington Bancshares by 90.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank’s stock worth $26,000 after acquiring an additional 800 shares during the period. Trust Co. of Vermont acquired a new position in shares of Huntington Bancshares during the second quarter valued at approximately $29,000. Johnson Financial Group Inc. acquired a new position in shares of Huntington Bancshares during the second quarter valued at approximately $31,000. Livelsberger Financial Advisory acquired a new position in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Huntington Bancshares by 80.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank’s stock worth $35,000 after purchasing an additional 994 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.