Huntington Bancshares (NASDAQ:HBAN) Stock Rating Upgraded by StockNews.com

Huntington Bancshares (NASDAQ:HBAN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Citigroup raised their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Piper Sandler raised their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.17 on Thursday. 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 has a 52-week low of $12.02 and a 52-week high of $18.44. The company has a market capitalization of $24.94 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The business’s fifty day moving average is $16.65 and its 200 day moving average is $14.85.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Insider Activity

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank’s stock worth $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $921,778,000 after purchasing an additional 1,522,767 shares during the period. Geode Capital Management LLC grew its position in Huntington Bancshares by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 36,880,662 shares of the bank’s stock worth $540,422,000 after purchasing an additional 473,893 shares during the period. FMR LLC grew its position in Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank’s stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the period. Finally, Victory Capital Management Inc. grew its position 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 during the period. 80.72% of the stock is currently 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.