Huntington Bancshares (NASDAQ:HBAN) Rating Reiterated by Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $17.00 price target on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 10.68% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Morgan Stanley increased their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Piper Sandler increased their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the company an “underweight” rating in a research report on Monday, July 22nd. Finally, Bank of America raised their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.91.

Huntington Bancshares Stock Down 0.5 %

Shares of HBAN opened at $15.36 on Friday. The firm has a market cap of $22.26 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $16.03. The stock has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $13.93. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts forecast that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at $167,331.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently bought and sold shares of the company. Asset Dedication LLC raised its holdings in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares in the 1st quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. boosted its stake in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter worth $40,000. Institutional investors own 80.72% of the company’s stock.

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.