Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $19.00 at Wolfe Research

Huntington Bancshares (NASDAQ:HBAN) had its target price cut by equities research analysts at Wolfe Research from $21.00 to $19.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the bank’s stock. Wolfe Research’s price objective would suggest a potential upside of 19.38% from the stock’s current price.

A number of other research firms have also recently commented on HBAN. Argus upped their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. 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 research report on Wednesday, February 4th. Keefe, Bruyette & Woods lowered their price target on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Finally, Truist Financial dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $20.43.

Huntington Bancshares Trading Up 1.7%

Shares of HBAN stock traded up $0.27 on Wednesday, reaching $15.92. 2,776,986 shares of the company’s stock were exchanged, compared to its average volume of 34,191,070. The company’s fifty day simple moving average is $16.88 and its 200 day simple moving average is $16.82. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $32.42 billion, a PE ratio of 11.48, a P/E/G ratio of 0.61 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 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 $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company earned $0.34 EPS. As a group, analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 17,455 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the sale, the vice president owned 42,398 shares in the company, valued at approximately $802,594.14. The trade was a 29.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Prashant Nateri sold 10,171 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the sale, the insider directly owned 83,819 shares of the company’s stock, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. Additional details regarding this sale 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. Company insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. State Street Corp raised its position in shares of Huntington Bancshares by 4.7% in the 4th quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after purchasing an additional 3,438,501 shares during the last quarter. Wellington Management Group LLP boosted its stake in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after purchasing an additional 68,478,435 shares in the last quarter. Boston Partners boosted its stake in Huntington Bancshares by 3.9% in the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after purchasing an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. grew its position in Huntington Bancshares by 6.6% during the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after purchasing an additional 3,908,927 shares during the last quarter. 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.