Huntington Bancshares (NASDAQ:HBAN) Given “Outperform” Rating at Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBANGet Free Report)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $16.00 price target on the bank’s stock. Royal Bank of Canada’s price objective points to a potential upside of 27.19% from the stock’s previous close.

A number of other research analysts have also recently commented on HBAN. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.30.

Check Out Our Latest Stock Report on Huntington Bancshares

Huntington Bancshares Stock Down 6.1 %

HBAN stock opened at $12.58 on Tuesday. The company has a market cap of $18.23 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $14.30. The business has a 50-day simple moving average of $13.69 and a 200 day simple moving average of $13.04.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the prior year, the firm posted $0.38 EPS. Sell-side analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the sale, the insider now directly owns 65,195 shares in the company, valued at $902,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the completion of the transaction, the insider now directly owns 65,195 shares in the company, valued at approximately $902,298.80. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock worth $2,148,623 in the last quarter. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of HBAN. D.A. Davidson & CO. lifted its position in shares of Huntington Bancshares by 7.4% during the third quarter. D.A. Davidson & CO. now owns 37,870 shares of the bank’s stock valued at $394,000 after purchasing an additional 2,608 shares in the last quarter. Pathstone Family Office LLC boosted its stake in shares of Huntington Bancshares by 114.6% in the 3rd quarter. Pathstone Family Office LLC now owns 45,690 shares of the bank’s stock worth $478,000 after buying an additional 24,400 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $1,508,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Huntington Bancshares by 0.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 853,708 shares of the bank’s stock valued at $8,879,000 after acquiring an additional 6,782 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Huntington Bancshares by 15.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 291,123 shares of the bank’s stock worth $3,028,000 after acquiring an additional 39,351 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

(Get Free Report)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.

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