Huntington Bancshares (NASDAQ:HBAN) Given New $20.00 Price Target at Royal Bank Of Canada

Huntington Bancshares (NASDAQ:HBAN) had its target price cut by analysts at Royal Bank Of Canada from $21.00 to $20.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the bank’s stock. Royal Bank Of Canada’s price target points to a potential upside of 25.82% from the company’s current price.

Several other research firms also recently weighed in on HBAN. Piper Sandler raised their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, January 22nd. Evercore decreased their price target on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, January 23rd. Raymond James Financial boosted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.13.

Huntington Bancshares Stock Down 0.3%

Shares of NASDAQ HBAN opened at $15.90 on Tuesday. The company’s 50-day simple moving average is $16.72 and its 200-day simple moving average is $16.77. Huntington Bancshares has a 52-week low of $12.08 and a 52-week high of $19.45. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 11.41, 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 (NASDAQ:HBAN) last announced its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) 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 analyst estimates of $2.21 billion. During the same quarter last year, the business earned $0.34 EPS. Equities analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 17,455 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the completion of the transaction, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. This represents a 29.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Torgow acquired 14,200 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were purchased at an average price of $17.81 per share, with a total value of $252,902.00. Following the transaction, the director owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 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 corporate insiders.

Institutional Trading of Huntington Bancshares

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

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.