The Goldman Sachs Group Issues Pessimistic Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price
by Tristan Rich · The Markets DailyHuntington Bancshares (NASDAQ:HBAN – Get Free Report) had its price target decreased by research analysts at The Goldman Sachs Group from $21.00 to $20.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 25.82% from the stock’s previous close.
A number of other analysts have also recently commented on the company. DA Davidson dropped their price objective on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Stephens raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 18th. Morgan Stanley reduced their price objective on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. UBS Group set a $21.00 price objective on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, Barclays boosted their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.13.
View Our Latest Research Report on Huntington Bancshares
Huntington Bancshares Trading Down 0.3%
NASDAQ:HBAN opened at $15.90 on Monday. The stock has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $16.77. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.64 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. Huntington Bancshares has a 1 year low of $12.08 and a 1 year high of $19.45.
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.
Insider Activity at Huntington Bancshares
In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.50, for a total transaction of $157,650.50. Following the sale, the insider directly owned 83,819 shares in the company, valued at $1,299,194.50. The trade was a 10.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the sale, the vice president owned 42,398 shares in the company, valued at $802,594.14. This represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. 0.67% of the stock is owned by company insiders.
Institutional Investors Weigh In On Huntington Bancshares
Institutional investors have recently made changes to their positions in the company. Altrius Capital Management Inc bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $4,894,000. Vanguard Group Inc. increased its holdings in shares of Huntington Bancshares by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock valued at $3,056,459,000 after acquiring an additional 680,601 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Huntington Bancshares during the 3rd quarter worth $3,746,000. Midwest Trust Co grew its stake in Huntington Bancshares by 12.7% during the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank’s stock worth $26,095,000 after buying an additional 170,240 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Huntington Bancshares by 3.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank’s stock worth $159,543,000 after buying an additional 314,544 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.
About Huntington Bancshares
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.