Royal Bank of Canada Reaffirms Outperform Rating for Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $17.00 price target on the bank’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.17% from the stock’s previous close.

A number of other research firms also recently commented on HBAN. Keefe, Bruyette & Woods cut their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Piper Sandler lifted their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research report on Monday, July 22nd. Morgan Stanley upped their target price on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Evercore ISI cut their price objective on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $15.43 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The business has a 50 day simple moving average of $14.53 and a two-hundred day simple moving average of $13.92. The stock has a market capitalization of $22.36 billion, a P/E ratio of 13.90, a PEG ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, analysts predict that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 in the last ninety days. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in HBAN. Asset Dedication LLC raised its stake 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 worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the 1st quarter worth $29,000. Peoples Bank KS purchased a new position in Huntington Bancshares during the 3rd quarter worth $29,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the period. Finally, Register Financial Advisors LLC purchased a new stake in shares of Huntington Bancshares in the first quarter valued at about $40,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.