Huntington Bancshares (NASDAQ:HBAN) had its price target hoisted by analysts at Morgan Stanley from $16.50 to $17.00 in a note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.87% from the company’s current price.
A number of other equities analysts have also recently weighed in on HBAN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.25 price target on shares of Huntington Bancshares in a research report on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and set a $15.50 price target on shares of Huntington Bancshares in a research report on Tuesday, October 17th. BMO Capital Markets cut shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a research report on Thursday, October 26th. Nomura lifted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, FBR & Co reissued a “hold” rating and set a $14.00 price target on shares of Huntington Bancshares in a research report on Thursday, October 26th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.75.
Huntington Bancshares (HBAN) traded up $0.16 on Friday, reaching $16.21. 8,365,622 shares of the company’s stock were exchanged, compared to its average volume of 11,371,529. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.94. Huntington Bancshares has a 12-month low of $12.14 and a 12-month high of $16.33. The firm has a market cap of $17,460.00, a price-to-earnings ratio of 16.21, a PEG ratio of 1.26 and a beta of 1.33.
In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total transaction of $603,655.08. Following the sale, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Helga Houston sold 14,513 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total transaction of $199,844.01. Following the sale, the insider now directly owns 499,824 shares in the company, valued at $6,882,576.48. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of HBAN. Capital International Investors lifted its position in Huntington Bancshares by 22.6% during the 2nd quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock worth $593,788,000 after buying an additional 8,101,400 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Huntington Bancshares by 20.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock worth $167,172,000 after buying an additional 2,065,131 shares in the last quarter. Beacon Investment Advisory Services Inc. bought a new stake in Huntington Bancshares during the 3rd quarter worth about $23,872,000. Janus Henderson Group PLC lifted its position in Huntington Bancshares by 865.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,432,015 shares of the bank’s stock worth $19,360,000 after buying an additional 1,283,709 shares in the last quarter. Finally, Maltese Capital Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth about $15,496,000. 73.53% of the stock is currently owned by hedge funds and other institutional investors.
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.
