Morgan Stanley Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by research analysts at Morgan Stanley from $22.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Morgan Stanley’s price objective suggests a potential upside of 35.59% from the company’s previous close.

Several other brokerages have also weighed in on HBAN. 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 report on Tuesday, January 21st. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Stephens reaffirmed an “equal weight” rating and set a $18.50 price objective on shares of Huntington Bancshares in a research report on Friday, February 7th. Citigroup increased their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Barclays increased their price target on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.75 on Thursday. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.45. The company has a 50-day moving average of $16.37 and a two-hundred day moving average of $16.11. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.33 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) last announced its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Assetmark Inc. raised its holdings in Huntington Bancshares by 24.0% during the 3rd quarter. Assetmark Inc. now owns 128,396 shares of the bank’s stock worth $1,887,000 after purchasing an additional 24,879 shares during the last quarter. Atria Investments Inc raised its holdings in Huntington Bancshares by 8.5% during the 3rd quarter. Atria Investments Inc now owns 248,687 shares of the bank’s stock worth $3,656,000 after purchasing an additional 19,484 shares during the last quarter. Covestor Ltd raised its holdings in Huntington Bancshares by 30.5% during the 3rd quarter. Covestor Ltd now owns 6,173 shares of the bank’s stock worth $91,000 after purchasing an additional 1,443 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth about $232,000. Finally, GSA Capital Partners LLP raised its holdings in Huntington Bancshares by 21.2% during the 3rd quarter. GSA Capital Partners LLP now owns 37,529 shares of the bank’s stock worth $552,000 after purchasing an additional 6,569 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

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.