Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $15.00

Huntington Bancshares (NASDAQ:HBAN) had its price target lowered by analysts at Jefferies Financial Group from $16.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 14.50% from the company’s current price.

A number of other brokerages have also recently issued reports on HBAN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Morgan Stanley decreased their price target on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Evercore ISI decreased their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, UBS Group cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.97.

Huntington Bancshares Price Performance

HBAN stock traded down $0.11 during midday trading on Wednesday, reaching $13.10. The company had a trading volume of 4,785,249 shares, compared to its average volume of 16,967,186. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average price of $13.40 and a 200-day moving average price of $13.16. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $14.30. The company has a market capitalization of $18.99 billion, a P/E ratio of 11.83, a P/E/G ratio of 2.49 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm posted $0.38 EPS. On average, research analysts anticipate that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kendall A. Kowalski sold 15,948 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the transaction, the insider now owns 21,102 shares in the company, valued at approximately $284,243.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,829 shares of company stock worth $2,148,623. Insiders own 0.92% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank increased its holdings in shares of Huntington Bancshares by 30.4% in the second quarter. First Hawaiian Bank now owns 34,732 shares of the bank’s stock worth $458,000 after purchasing an additional 8,091 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Huntington Bancshares by 136.1% during the 2nd quarter. GAMMA Investing LLC now owns 30,599 shares of the bank’s stock valued at $403,000 after acquiring an additional 17,640 shares during the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Huntington Bancshares by 7.0% in the second quarter. Transcend Capital Advisors LLC now owns 52,214 shares of the bank’s stock valued at $688,000 after purchasing an additional 3,401 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in Huntington Bancshares by 43.1% in the first quarter. Abich Financial Wealth Management LLC now owns 7,912 shares of the bank’s stock worth $110,000 after purchasing an additional 2,383 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Huntington Bancshares by 3.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 586,246 shares of the bank’s stock valued at $8,049,000 after purchasing an additional 20,540 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.