Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by equities researchers at Morgan Stanley from $14.50 to $16.50 in a note issued to investors on Wednesday. The firm currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.41% from the stock’s current price.
Several other equities analysts have also weighed in on HBAN. JMP Securities initiated coverage on shares of Huntington Bancshares in a research report on Thursday, August 31st. They set an “outperform” rating and a $15.00 price objective on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, September 8th. Sanford C. Bernstein raised shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $17.00 in a research report on Thursday, September 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.25 price objective on shares of Huntington Bancshares in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.50 price objective on shares of Huntington Bancshares in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.63.
Huntington Bancshares (NASDAQ HBAN) traded up $0.19 during midday trading on Wednesday, hitting $14.81. 9,383,300 shares of the stock were exchanged, compared to its average volume of 9,464,983. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $16,000.00, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. Huntington Bancshares has a 1-year low of $12.14 and a 1-year high of $14.93.
In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the transaction, the executive vice president now owns 427,270 shares in the company, valued at $5,930,507.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 14,513 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the transaction, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Nationwide Fund Advisors grew its stake in shares of Huntington Bancshares by 430.6% in the second quarter. Nationwide Fund Advisors now owns 1,620,866 shares of the bank’s stock worth $21,914,000 after acquiring an additional 1,315,390 shares during the last quarter. Budros Ruhlin & Roe Inc. grew its stake in shares of Huntington Bancshares by 57.9% in the second quarter. Budros Ruhlin & Roe Inc. now owns 42,263 shares of the bank’s stock worth $571,000 after acquiring an additional 15,501 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Huntington Bancshares by 2.9% in the third quarter. Rhumbline Advisers now owns 2,072,978 shares of the bank’s stock worth $28,939,000 after acquiring an additional 58,161 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Huntington Bancshares by 39.6% in the third quarter. BNP Paribas Arbitrage SA now owns 723,671 shares of the bank’s stock worth $10,102,000 after acquiring an additional 205,325 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Huntington Bancshares by 25.4% in the second quarter. Toronto Dominion Bank now owns 369,480 shares of the bank’s stock worth $4,994,000 after acquiring an additional 74,932 shares during the last quarter. Institutional investors own 73.77% of the company’s stock.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
