Huntington Bancshares (NASDAQ:HBAN) Raised to Hold at Wall Street Zen

Huntington Bancshares (NASDAQ:HBAN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently commented on the stock. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Citigroup increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley increased their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Jefferies Financial Group increased their target price on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.37.

Huntington Bancshares Stock Down 4.5%

Huntington Bancshares stock opened at $15.60 on Friday. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $18.44. The firm has a market capitalization of $22.76 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The firm’s fifty day moving average price is $17.10 and its two-hundred day moving average price is $16.07. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. On average, equities research analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently modified their holdings of the business. Accurate Wealth Management LLC grew its holdings in Huntington Bancshares by 3.5% in the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock valued at $319,000 after buying an additional 611 shares in the last quarter. LifeWealth Investments LLC grew its holdings in Huntington Bancshares by 2.3% in the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock valued at $478,000 after buying an additional 632 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Huntington Bancshares by 0.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank’s stock valued at $2,758,000 after buying an additional 668 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in Huntington Bancshares by 2.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank’s stock valued at $436,000 after buying an additional 691 shares in the last quarter. Finally, Winch Advisory Services LLC grew its holdings in Huntington Bancshares by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank’s stock valued at $69,000 after buying an additional 709 shares in the last quarter. Hedge funds and other 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.