Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $17.00 at Piper Sandler

by · The Markets Daily

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) had its price objective dropped by investment analysts at Piper Sandler from $17.50 to $17.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential downside of 0.26% from the company’s previous close.

A number of other research firms also recently weighed in on HBAN. 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. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial raised their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays upped their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Check Out Our Latest Research Report on HBAN

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.04 on Tuesday, hitting $17.05. The company’s stock had a trading volume of 6,680,979 shares, compared to its average volume of 17,641,141. The company has a 50 day moving average price of $17.05 and a 200 day moving average price of $15.51. Huntington Bancshares has a fifty-two week low of $12.05 and a fifty-two week high of $18.44. The company has a market capitalization of $24.76 billion, a PE ratio of 13.85, a PEG ratio of 2.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, research analysts anticipate that Huntington Bancshares will post 1.36 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Huntington Bancshares

Several large investors have recently modified their holdings of HBAN. State Street Corp lifted its stake in Huntington Bancshares by 10.3% during the third quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after purchasing an additional 1,522,767 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Huntington Bancshares by 1.3% during the third quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after buying an additional 473,893 shares during the last quarter. FMR LLC lifted its stake in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock valued at $348,672,000 after acquiring an additional 3,410,597 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Huntington Bancshares by 13.2% in the 3rd quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

(Get Free Report)

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.

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