Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00 at Citigroup

Huntington Bancshares (NASDAQ:HBAN) had its price target upped by equities research analysts at Citigroup from $18.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup’s price target suggests a potential upside of 19.39% from the stock’s current price.

HBAN has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Argus raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, October 18th. Finally, Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.26.

Huntington Bancshares Trading Down 1.2 %

NASDAQ:HBAN traded down $0.21 during mid-day trading on Tuesday, hitting $17.59. 4,149,864 shares of the company’s stock were exchanged, compared to its average volume of 16,037,655. The company has a 50 day simple moving average of $15.45 and a 200-day simple moving average of $14.36. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $25.55 billion, a P/E ratio of 16.91, a PEG ratio of 3.53 and a beta of 1.03. Huntington Bancshares has a fifty-two week low of $10.73 and a fifty-two week high of $17.97.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the firm earned $0.36 earnings per share. As a group, research analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors have recently modified their holdings of the company. Asset Dedication LLC grew its position in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS acquired a new position in shares of Huntington Bancshares in the third quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the 3rd quarter worth approximately $31,000. Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the 3rd quarter worth approximately $32,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

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.