Truist Financial Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by stock analysts at Truist Financial from $20.00 to $21.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 20.48% from the stock’s current price.

Several other equities research analysts have also recently commented on HBAN. Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Jefferies Financial Group upped their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 19th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 6th. DA Davidson restated a “buy” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Tuesday, October 28th. Finally, Piper Sandler raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.11.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.43 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 1 year low of $11.91 and a 1 year high of $18.91. The company has a market cap of $27.45 billion, a PE ratio of 12.54, a PEG ratio of 0.70 and a beta of 0.95. The stock’s 50-day moving average price is $17.36 and its two-hundred day moving average price is $16.87.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the previous year, the company earned $0.34 EPS. On average, analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Activity

In related news, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $17.80, for a total value of $44,161.80. Following the completion of the transaction, the insider directly owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amit Dhingra sold 10,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider owned 155,634 shares of the company’s stock, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,863 shares of company stock valued at $1,581,634 in the last three months. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently bought and sold shares of the stock. Sagespring Wealth Partners LLC increased its stake in shares of Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after acquiring an additional 587 shares during the period. LifeWealth Investments LLC raised its position in Huntington Bancshares by 2.3% in the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock valued at $478,000 after purchasing an additional 632 shares during the period. Parcion Private Wealth LLC increased its position in shares of Huntington Bancshares by 6.2% during the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after acquiring an additional 648 shares during the last quarter. Strategic Planning Inc. raised its stake in Huntington Bancshares by 0.3% during the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after buying an additional 670 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after purchasing an additional 694 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.