Huntington Bancshares’ (HBAN) Equal Weight Rating Reaffirmed at Stephens

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “equal weight” rating reaffirmed by research analysts at Stephens in a research note issued to investors on Friday,Benzinga reports. They currently have a $18.50 target price on the bank’s stock. Stephens’ price objective indicates a potential upside of 9.31% from the stock’s previous close.

HBAN has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Tuesday, January 21st. Piper Sandler lowered their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, January 21st. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Truist Financial lifted their price target on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.06.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.24 during midday trading on Friday, hitting $16.93. 9,821,811 shares of the company’s stock were exchanged, compared to its average volume of 19,408,822. Huntington Bancshares has a 12-month low of $12.05 and a 12-month high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The firm’s 50 day simple moving average is $16.87 and its 200 day simple moving average is $15.79.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the firm posted $0.27 earnings per share. Equities research analysts predict that Huntington Bancshares will post 1.4 EPS for the current year.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently made changes to their positions in the company. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the last quarter. Creative Capital Management Investments LLC raised its position in shares of Huntington Bancshares by 17,533.3% during the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after acquiring an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of Huntington Bancshares by 126.8% during the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $31,000. Finally, Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares during the third quarter worth about $32,000. 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.