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

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They currently have a $20.00 price target on the bank’s stock. Royal Bank of Canada’s price target points to a potential upside of 22.55% from the company’s current price.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Citigroup lifted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays increased their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. 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. Finally, StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $17.41.

Huntington Bancshares Trading Up 2.6 %

Shares of NASDAQ:HBAN opened at $16.32 on Monday. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. The business’s 50 day moving average price is $16.80 and its 200-day moving average price is $14.96. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a 1 year low of $12.02 and a 1 year high of $18.44.

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, beating the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Asset Dedication LLC grew its stake in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $29,000. Hazlett Burt & Watson Inc. raised its holdings in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the third quarter worth approximately $31,000. Finally, Fortitude Family Office LLC acquired a new position in Huntington Bancshares during the 3rd quarter worth approximately $32,000. 80.72% of the stock is currently 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.