Huntington Bancshares (NASDAQ:HBAN) Given New $17.00 Price Target at Keefe, Bruyette & Woods

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 22.04% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Truist Financial increased their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Citigroup reduced their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, March 24th. Raymond James restated a “strong-buy” rating and issued a $18.00 price target (down previously from $20.00) on shares of Huntington Bancshares in a research note on Monday. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Friday, March 7th. Finally, Stephens reissued an “equal weight” rating and issued a $16.50 price objective on shares of Huntington Bancshares in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.39.

Huntington Bancshares Price Performance

Shares of HBAN opened at $13.93 on Monday. Huntington Bancshares has a 52 week low of $11.92 and a 52 week high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.33 and a beta of 0.89. The stock has a 50 day moving average of $14.75 and a 200-day moving average of $16.00.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares declared that its board has authorized a stock repurchase program on Thursday, April 17th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the transaction, the chief financial officer now directly owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. The trade was a 10.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,781 shares of company stock valued at $1,631,151 in the last three months. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC increased its holdings in Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares during the last quarter. Y.D. More Investments Ltd grew its position in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after acquiring an additional 1,023 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter worth $37,000. Transce3nd LLC bought a new position in shares of Huntington Bancshares during the 4th quarter valued at $48,000. Finally, Asset Dedication LLC boosted its holdings in Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other 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.