Huntington Bancshares (NASDAQ:HBAN) Earns “Outperform” Rating from Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $20.00 price objective on the bank’s stock. Royal Bank of Canada’s price target points to a potential upside of 16.48% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. DA Davidson increased their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Evercore ISI boosted their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $17.41.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.17 on Thursday. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The business’s 50 day moving average is $16.65 and its two-hundred day moving average is $14.85. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the company posted $0.36 EPS. Research analysts expect that Huntington Bancshares will post 1.21 EPS for the current year.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 in the last three months. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. Arvest Bank Trust Division bought a new stake in Huntington Bancshares in the third quarter valued at $2,381,000. Heritage Wealth Management Inc. bought a new stake in shares of Huntington Bancshares in the second quarter worth approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after acquiring an additional 44,662 shares during the period. Petiole USA ltd purchased a new stake in shares of Huntington Bancshares during the 3rd quarter valued at about $3,454,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after acquiring an additional 55,865 shares during the last quarter. Hedge funds and other 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.