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

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They currently have a $17.00 price objective on the bank’s stock. Royal Bank of Canada’s price target points to a potential upside of 10.68% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler increased their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price target on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Finally, Argus boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.91.

Huntington Bancshares Trading Down 0.5 %

NASDAQ:HBAN opened at $15.36 on Friday. The company has a market cap of $22.26 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a 50 day simple moving average of $14.56 and a two-hundred day simple moving average of $13.93. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $16.03.

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

Insider Transactions at Huntington Bancshares

In related news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently bought and sold shares of HBAN. Allspring Global Investments Holdings LLC lifted its holdings in shares of Huntington Bancshares by 11.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,732 shares of the bank’s stock valued at $1,143,000 after acquiring an additional 7,976 shares during the last quarter. Vest Financial LLC raised its position in Huntington Bancshares by 15.5% during the third quarter. Vest Financial LLC now owns 101,171 shares of the bank’s stock valued at $1,487,000 after purchasing an additional 13,610 shares during the period. Wealth Alliance Advisory Group LLC bought a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $277,000. Blue Trust Inc. boosted its holdings in shares of Huntington Bancshares by 77.4% in the 3rd quarter. Blue Trust Inc. now owns 20,974 shares of the bank’s stock worth $308,000 after purchasing an additional 9,152 shares during the period. Finally, Net Worth Advisory Group bought a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $155,000. 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.