Citigroup Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its target price decreased by research analysts at Citigroup from $20.00 to $18.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Citigroup’s target price would suggest a potential upside of 17.49% from the company’s current price.

A number of other brokerages have also weighed in on HBAN. The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Piper Sandler decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Truist Financial lifted their price objective on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Barclays increased their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Down 0.2 %

HBAN stock opened at $15.32 on Monday. Huntington Bancshares has a 1-year low of $12.05 and a 1-year high of $18.45. The business’s 50 day simple moving average is $16.18 and its 200 day simple moving average is $16.14. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $22.38 billion, a PE ratio of 12.46, a PEG ratio of 1.33 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the prior year, the company earned $0.27 EPS. As a group, research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at $4,825,036.44. This represents a 10.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 69,088 shares of Huntington Bancshares stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. The trade was a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of HBAN. Arvest Bank Trust Division bought a new position in Huntington Bancshares during the 3rd quarter worth $2,381,000. Mediolanum International Funds Ltd bought a new position in shares of Huntington Bancshares during the fourth quarter worth about $422,000. Donoghue Forlines LLC acquired a new position in shares of Huntington Bancshares in the fourth quarter worth approximately $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd acquired a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $3,454,000. Institutional investors and hedge funds 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.