Truist Financial Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its target price raised by analysts at Truist Financial from $19.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Truist Financial’s price objective would suggest a potential upside of 16.55% from the stock’s current price.

Several other research firms have also weighed in on HBAN. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a report on Monday, July 6th. Evercore reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. Robert W. Baird increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday. Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, UBS Group upped their price target on Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.11.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $17.16 on Tuesday. The business’s 50 day moving average price is $17.16 and its 200 day moving average price is $16.92. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.78 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares has a one year low of $14.89 and a one year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, research analysts predict that Huntington Bancshares will post 1.62 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased a total of 22,000 shares of company stock worth $401,219 in the last quarter. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Asset Management LLC raised its stake in shares of Huntington Bancshares by 33.8% in the second quarter. Trust Asset Management LLC now owns 21,614 shares of the bank’s stock valued at $383,000 after acquiring an additional 5,459 shares in the last quarter. Northside Capital Management LLC raised its position in Huntington Bancshares by 1.9% in the 2nd quarter. Northside Capital Management LLC now owns 605,045 shares of the bank’s stock valued at $10,727,000 after purchasing an additional 11,572 shares in the last quarter. Tema ETFs LLC boosted its stake in shares of Huntington Bancshares by 10.3% in the 2nd quarter. Tema ETFs LLC now owns 29,510 shares of the bank’s stock valued at $523,000 after buying an additional 2,755 shares during the period. Handelsbanken Fonder AB grew its position in shares of Huntington Bancshares by 15.8% during the second quarter. Handelsbanken Fonder AB now owns 614,273 shares of the bank’s stock worth $10,891,000 after buying an additional 83,706 shares in the last quarter. Finally, Focus Financial Network Inc. increased its stake in shares of Huntington Bancshares by 8.1% during the second quarter. Focus Financial Network Inc. now owns 21,298 shares of the bank’s stock worth $381,000 after buying an additional 1,588 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.