Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated at Stephens

Research analysts at Stephens initiated coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a report released on Monday. The brokerage set an “equal weight” rating on the bank’s stock.

Several other equities research analysts have also recently weighed in on HBAN. Wolfe Research reduced 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 report on Wednesday, April 1st. Evercore restated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Royal Bank Of Canada cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Morgan Stanley cut their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.10.

Huntington Bancshares Price Performance

Shares of HBAN stock traded down $0.11 during mid-day trading on Monday, hitting $17.42. The company had a trading volume of 8,630,662 shares, compared to its average volume of 28,738,625. Huntington Bancshares has a 52-week low of $14.89 and a 52-week high of $19.45. The stock’s 50 day moving average price is $16.29 and its 200-day moving average price is $16.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $35.30 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.80 and a beta of 0.94.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.61 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In related news, Director James D. Rollins III purchased 11,127 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $16.50 per share, for a total transaction of $183,595.50. Following the completion of the acquisition, the director owned 11,127 shares in the company, valued at approximately $183,595.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 33,500 shares of company stock valued at $617,542 in the last quarter. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in HBAN. MV Capital Management Inc. purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at about $26,000. South Plains Financial Inc. lifted 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 valued at $27,000 after buying an additional 826 shares during the last quarter. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $28,000. Finally, Accredited Wealth Management LLC lifted its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.