#3 - Huntington Bancshares (NASDAQ:HBAN)
One question investors are asking is whether lower interest rates will signal an all-clear for the commercial real estate sector. The early results suggest that risk appetite may be increasing. If that’s the case, regional banks may begin to look attractive, and Huntington Bancshares (NASDAQ: HBAN) is one to consider.
Like many regional bank stocks, Huntington Bancshares stock cratered nearly 40% when the rate on the 2-year Treasury note hit 5% in March 2023. That signaled a flight to safety into fixed-income assets. But since the Federal Reserve hinted at rate cuts in October 2023, HBAN stock is on the rise backed by strong year-over-year revenue growth.
The key will be earnings growth. And with the cost of borrowing easing, that should come around in short order - at least that's what analysts seem to think. Morgan Stanley retained its Overweight on Huntington and boosted its price target to $18. That’s 15% above the consensus price target. Huntington also offers an attractive dividend that currently yields 4.30%.
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.
Read More - Current Price
- $17.38
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 5 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $16.09 (7.4% Downside)
