The Goldman Sachs Group Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Huntington Bancshares (NASDAQ:HBAN) had its target price upped by stock analysts at The Goldman Sachs Group from $16.25 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price target points to a potential upside of 11.11% from the company’s previous close.

Other analysts have also recently issued reports about the company. Piper Sandler upped their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Citigroup boosted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Barclays boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.62.

Huntington Bancshares Stock Down 0.8 %

NASDAQ HBAN opened at $18.00 on Tuesday. The stock’s 50 day moving average is $15.86 and its 200 day moving average is $14.53. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a 12 month low of $10.73 and a 12 month high of $18.44. The stock has a market cap of $26.15 billion, a PE ratio of 17.51, a P/E/G ratio of 3.63 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the firm earned $0.36 EPS. Research analysts predict that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, 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. Over the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. Asset Dedication LLC boosted its position in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $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 about $29,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Huntington Bancshares by 695.5% during 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 acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $31,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at about $32,000. Institutional investors own 80.72% of the company’s stock.

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.