Barclays Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Huntington Bancshares (NASDAQ:HBAN) had its target price raised by analysts at Barclays from $17.00 to $19.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price target would suggest a potential upside of 14.80% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Monday, December 23rd. Evercore ISI increased their target price 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. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price objective (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.76.

Huntington Bancshares Trading Up 0.1 %

Huntington Bancshares stock opened at $16.55 on Monday. Huntington Bancshares has a 12-month low of $12.02 and a 12-month high of $18.44. The stock has a market capitalization of $24.04 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 3.42 and a beta of 1.07. The firm has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $15.28. 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 (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $0.36 EPS. As a group, equities research analysts expect that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on 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 sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc lifted its holdings in Huntington Bancshares by 3.6% in the 2nd quarter. TD Asset Management Inc now owns 553,095 shares of the bank’s stock worth $7,290,000 after purchasing an additional 19,287 shares during the last quarter. Arizona State Retirement System grew its stake in Huntington Bancshares by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 399,908 shares of the bank’s stock valued at $5,271,000 after buying an additional 1,617 shares during the last quarter. Candriam S.C.A. lifted its position in Huntington Bancshares by 7.4% during the 2nd quarter. Candriam S.C.A. now owns 176,128 shares of the bank’s stock worth $2,321,000 after acquiring an additional 12,086 shares during the last quarter. Chris Bulman Inc bought a new stake in Huntington Bancshares during the second quarter valued at about $77,000. Finally, Acadian Asset Management LLC grew its position in shares of Huntington Bancshares by 19.4% in the second quarter. Acadian Asset Management LLC now owns 32,391 shares of the bank’s stock valued at $426,000 after purchasing an additional 5,262 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

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.