Stephens Reiterates Equal Weight Rating for Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Stephens in a report issued on Monday, Benzinga reports. They presently have a $15.00 target price on the bank’s stock. Stephens’ price target would indicate a potential upside of 10.05% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Royal Bank of Canada increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $13.63 on Monday. The stock’s 50-day moving average price is $13.31 and its two-hundred day moving average price is $12.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a market cap of $19.76 billion, a PE ratio of 12.28, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the prior year, the company earned $0.38 EPS. On average, analysts predict that Huntington Bancshares will post 1.21 EPS for the current year.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Helga Houston sold 28,700 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the sale, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock worth $1,360,359 over the last three months. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares during the last quarter. Boston Partners grew its holdings in shares of Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Huntington Bancshares by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after purchasing an additional 245,025 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after purchasing an additional 3,438,552 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $206,703,000. 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.