Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, TD Cowen Analyst Says

Huntington Bancshares (NASDAQ:HBAN) had its price target boosted by research analysts at TD Cowen from $22.00 to $23.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the bank’s stock. TD Cowen’s target price points to a potential upside of 51.72% from the stock’s current price.

A number of other brokerages have also issued reports on HBAN. Raymond James Financial reiterated a “strong-buy” rating and set a $20.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Monday, October 20th. Jefferies Financial Group upped their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Finally, Cowen reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.82.

Huntington Bancshares Stock Performance

Shares of NASDAQ:HBAN opened at $15.16 on Tuesday. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $18.44. The firm has a market cap of $22.12 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The business has a fifty day moving average of $16.94 and a 200-day moving average of $16.27.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The company had revenue of $469.00 million during the quarter. On average, equities research analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares of the company’s stock, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Huntington Bancshares by 1.3% during the second quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock worth $2,954,792,000 after acquiring an additional 2,343,244 shares in the last quarter. Boston Partners boosted its holdings in Huntington Bancshares by 4.8% during the second quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock worth $1,020,382,000 after purchasing an additional 2,776,429 shares during the last quarter. Invesco Ltd. boosted its holdings in Huntington Bancshares by 1.8% during the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock worth $975,460,000 after purchasing an additional 1,015,066 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 1.7% during the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock worth $658,541,000 after purchasing an additional 640,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Huntington Bancshares by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank’s stock worth $475,558,000 after purchasing an additional 397,141 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.