Piper Sandler Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by stock analysts at Piper Sandler from $15.00 to $17.50 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential downside of 0.57% from the company’s previous close.

HBAN has been the topic of a number of other reports. Barclays increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Evercore ISI raised their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $17.60 on Tuesday. Huntington Bancshares has a 52 week low of $11.57 and a 52 week high of $18.44. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 3.55 and a beta of 1.06. The firm’s 50-day simple moving average is $16.18 and its 200 day simple moving average is $14.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current 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, topping analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in shares of Huntington Bancshares by 200.7% in the 3rd 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 shares of Huntington Bancshares in the 3rd quarter worth about $29,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after buying an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth about $31,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Huntington Bancshares in the 3rd quarter worth about $32,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

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.