Huntington Bancshares (NASDAQ:HBAN) Receives "Outperform" Rating from Royal Bank of Canada

Huntington Bancshares (NASDAQ:HBAN - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the bank's stock. Royal Bank of Canada's price target points to a potential upside of 16.96% from the company's previous close.

Other research analysts have also issued reports about the stock. DA Davidson upped their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a "buy" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on 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 price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Finally, Piper Sandler upped their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.06.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded up $0.09 during midday trading on Tuesday, hitting $17.10. 22,133,511 shares of the company's stock were exchanged, compared to its average volume of 18,977,895. The stock has a 50-day moving average price of $17.04 and a two-hundred day moving average price of $15.54. Huntington Bancshares has a 52-week low of $12.05 and a 52-week high of $18.44. The company has a market cap of $24.84 billion, a P/E ratio of 13.90, a PEG ratio of 2.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates 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 prior year, the company earned $0.27 EPS. On average, equities research analysts forecast that Huntington Bancshares will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares in the company, 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. In the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of HBAN. Asset Dedication LLC increased its holdings in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank's stock valued at $26,000 after acquiring an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new stake in Huntington Bancshares during the 3rd quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the 3rd quarter valued at about $31,000. Fortitude Family Office LLC purchased a new position in Huntington Bancshares in the third quarter worth about $32,000. Finally, UMB Bank n.a. raised its holdings in Huntington Bancshares by 19.1% in the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank's stock worth $67,000 after buying an additional 728 shares during the last quarter. 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.