Jefferies Financial Group Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its target price decreased by equities research analysts at Jefferies Financial Group from $22.00 to $21.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 25.60% from the company’s previous close.

Several other research analysts have also recently weighed in on HBAN. Evercore assumed coverage on Huntington Bancshares in a research report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price target for the company. Wolfe Research reaffirmed an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, January 7th. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. Finally, Piper Sandler upped their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $20.64.

Huntington Bancshares Stock Down 0.7%

NASDAQ:HBAN opened at $16.72 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. The company’s fifty day moving average price is $17.75 and its 200-day moving average price is $17.08. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $19.45. The firm has a market capitalization of $33.94 billion, a P/E ratio of 12.03, a PEG ratio of 0.68 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same period in the prior year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other news, Director James D. Rollins III acquired 6,873 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average cost of $23.27 per share, for a total transaction of $159,934.71. Following the acquisition, the director owned 4,000 shares in the company, valued at approximately $93,080. This represents a -239.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total value of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares of the company’s stock, valued at $802,594.14. The trade was a 29.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders bought 26,488 shares of company stock worth $510,286 and sold 50,145 shares worth $929,885. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the business. S Harris Financial Group LLC purchased a new stake in Huntington Bancshares during the 4th quarter valued at about $186,000. MidFirst Bank purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $236,000. Kera Capital Partners Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $241,000. MV Capital Management Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $25,000. Finally, Sunbelt Securities Inc. boosted its stake in Huntington Bancshares by 252.9% during the fourth quarter. Sunbelt Securities Inc. now owns 13,064 shares of the bank’s stock worth $227,000 after buying an additional 9,362 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.