Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price target upped by investment analysts at Citigroup from $18.00 to $21.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Citigroup's target price suggests a potential upside of 19.73% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Argus lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Bank of America lifted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Piper Sandler lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a research report on Friday, October 18th. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.26.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN traded down $0.26 during midday trading on Tuesday, reaching $17.54. The company had a trading volume of 11,448,921 shares, compared to its average volume of 16,070,239. The business's 50-day simple moving average is $15.51 and its 200 day simple moving average is $14.39. The stock has a market cap of $25.48 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.53 and a beta of 1.03. Huntington Bancshares has a 1 year low of $10.73 and a 1 year high of $17.97. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the company posted $0.36 earnings per share. On average, analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares of the company's stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have 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

Large investors have recently bought and sold shares of the business. Asset Dedication LLC raised its stake 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 in the last quarter. Peoples Bank KS bought a new position in Huntington Bancshares in the third quarter worth approximately $29,000. Hazlett Burt & Watson Inc. grew its holdings in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank's stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the third quarter worth $31,000. Finally, Fortitude Family Office LLC purchased a new position in Huntington Bancshares in the third quarter worth $32,000. 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.