Huntington Bancshares (NASDAQ:HBAN) Now Covered by Truist Financial

Research analysts at Truist Financial assumed coverage on shares of Huntington Bancshares (NASDAQ:HBAN - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set a "buy" rating and a $19.00 price target on the bank's stock. Truist Financial's price target suggests a potential upside of 14.80% from the stock's current price.

Several other analysts have also weighed in on HBAN. Sandler O'Neill reiterated a "buy" rating on shares of Huntington Bancshares in a research note on Friday, October 18th. The Goldman Sachs Group increased their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Barclays lifted their target price on Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday. Evercore ISI increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.76.

Huntington Bancshares Stock Up 0.1 %

Shares of Huntington Bancshares stock traded up $0.02 during trading on Tuesday, reaching $16.55. The company had a trading volume of 12,545,218 shares, compared to its average volume of 15,553,154. 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 fifty-two week low of $12.02 and a fifty-two week high of $18.44. The firm's fifty day moving average is $17.01 and its 200-day moving average is $15.28. The company has a market cap of $24.04 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.22 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other news, 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 value of $505,362.00. Following the transaction, the vice president now owns 496,076 shares of the company's stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company's stock, valued at approximately $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 have sold 43,699 shares of company stock valued at $757,356. Corporate insiders own 0.89% of the company's stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in Huntington Bancshares by 10.3% during the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock worth $1,179,319,000 after purchasing an additional 7,439,909 shares in the last quarter. FMR LLC boosted its position in shares of Huntington Bancshares by 16.8% in the third quarter. FMR LLC now owns 23,719,168 shares of the bank's stock worth $348,672,000 after buying an additional 3,410,597 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 13.2% during the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank's stock valued at $298,682,000 after buying an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. raised its position in Huntington Bancshares by 194.8% during the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank's stock valued at $42,226,000 after buying an additional 2,116,839 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 1,522,767 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.