Huntington Bancshares (NASDAQ:HBAN) Now Covered by Truist Financial

Equities researchers at Truist Financial assumed coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $19.00 price target on the bank’s stock. Truist Financial’s price target would suggest a potential upside of 14.94% from the company’s current price.

Other research analysts have also issued research reports about the stock. Barclays upped their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Evercore ISI upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Piper Sandler increased their target price on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Trading Up 0.5 %

Shares of NASDAQ:HBAN opened at $16.53 on Tuesday. The company’s 50-day moving average price is $16.99 and its two-hundred day moving average price is $15.26. 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 one year low of $12.02 and a one year high of $18.44. The stock has a market capitalization of $24.01 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating 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 net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities analysts forecast that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares 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 completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last quarter. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Asset Dedication LLC lifted its position 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 valued at $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares in the third quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the third quarter worth about $31,000. Fortitude Family Office LLC bought a new stake in Huntington Bancshares in the third quarter worth about $32,000. Finally, Hazlett Burt & Watson Inc. raised its position in Huntington Bancshares by 695.5% in the second 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. 80.72% of the stock is owned by institutional investors.

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.