Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated by Analysts at Evercore ISI

Investment analysts at Evercore ISI initiated coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a research note issued on Tuesday. The firm set an “outperform” rating and a $21.00 price target on the bank’s stock. Evercore ISI’s price objective points to a potential upside of 17.45% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Jefferies Financial Group raised their price target on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods dropped their price objective on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Piper Sandler raised their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. Finally, Stephens increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, December 18th. Two investment analysts have 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.42.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $17.88 on Tuesday. The firm has a 50-day simple moving average of $17.50 and a 200-day simple moving average of $16.89. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $28.16 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.91.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data 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 business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company posted $0.34 EPS. On average, equities analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Amit Dhingra sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider directly owned 155,634 shares in the company, valued at $2,879,229. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the sale, the executive vice president owned 239,473 shares of the company’s stock, valued at $4,310,514. This represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 97,863 shares of company stock valued at $1,581,634. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sagespring Wealth Partners LLC raised its stake in Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after acquiring an additional 587 shares during the period. LifeWealth Investments LLC increased its stake in shares of Huntington Bancshares by 2.3% in the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after purchasing an additional 632 shares in the last quarter. Parcion Private Wealth LLC raised its position in shares of Huntington Bancshares by 6.2% in the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after purchasing an additional 648 shares during the period. Strategic Planning Inc. lifted its stake in shares of Huntington Bancshares by 0.3% during the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after buying an additional 670 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Huntington Bancshares by 4.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock valued at $292,000 after buying an additional 694 shares in the last quarter. Institutional investors and hedge funds 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.