Piper Sandler Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its price target lifted by investment analysts at Piper Sandler from $14.00 to $15.00 in a report released on Friday, Marketbeat.com reports. The firm presently has an “underweight” rating on the bank’s stock. Piper Sandler’s target price indicates a potential downside of 2.34% from the stock’s current price.

HBAN has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a report on Friday. Bank of America upped their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, July 26th. Citigroup upped their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Evercore ISI cut their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.91.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.36 on Friday. The business’s fifty day moving average is $14.56 and its 200 day moving average is $13.93. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for 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 previous year, the business posted $0.36 EPS. Research analysts expect that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last 90 days. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Huntington Bancshares by 64.2% during the fourth quarter. Wellington Management Group LLP now owns 304,829 shares of the bank’s stock valued at $3,877,000 after acquiring an additional 119,178 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter worth about $299,000. Nomura Holdings Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth about $372,000. GAMMA Investing LLC boosted its stake in Huntington Bancshares by 31.3% during the first quarter. GAMMA Investing LLC now owns 12,959 shares of the bank’s stock valued at $181,000 after buying an additional 3,092 shares during the last quarter. Finally, First Hawaiian Bank grew its holdings in Huntington Bancshares by 111.0% during the 1st quarter. First Hawaiian Bank now owns 26,641 shares of the bank’s stock valued at $372,000 after buying an additional 14,013 shares in the last quarter. 80.72% of the stock is currently 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.