Evercore Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $19.00

Huntington Bancshares (NASDAQ:HBAN) had its target price reduced by stock analysts at Evercore from $21.00 to $19.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the bank’s stock. Evercore’s price objective indicates a potential upside of 19.93% from the stock’s current price.

Several other analysts have also commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, January 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 6th. National Bank Financial set a $21.00 target price on shares of Huntington Bancshares in a research note on Wednesday, February 4th. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, February 4th. Finally, Stephens increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Huntington Bancshares Price Performance

HBAN traded up $0.05 during midday trading on Monday, reaching $15.84. 691,662 shares of the company’s stock were exchanged, compared to its average volume of 33,868,184. The firm has a market capitalization of $32.27 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a one year low of $11.91 and a one year high of $19.45. The business has a 50-day simple moving average of $16.75 and a two-hundred day simple moving average of $16.78.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, research analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott D. Kleinman sold 65,530 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the transaction, the vice president owned 481,676 shares in the company, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $25,000. Palisade Asset Management LLC bought a new position in Huntington Bancshares in the third quarter valued at about $26,000. South Plains Financial Inc. increased its position in Huntington Bancshares by 116.3% in the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Centennial Bank AR bought a new stake in Huntington Bancshares during the 4th quarter worth about $28,000. Finally, Accredited Wealth Management LLC lifted its position in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

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.