Jefferies Financial Group Raises Huntington Bancshares (NASDAQ:HBAN) Price Target to $22.00

Huntington Bancshares (NASDAQ:HBAN) had its target price increased by analysts at Jefferies Financial Group from $20.00 to $22.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s target price indicates a potential upside of 25.07% from the stock’s previous close.

Several other research firms have also recently issued reports on HBAN. Evercore ISI initiated coverage on Huntington Bancshares in a report on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. TD Cowen lifted their target price on shares of Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley boosted their target price on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.92.

Huntington Bancshares Stock Down 0.9%

HBAN stock opened at $17.59 on Friday. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $18.03. The firm has a fifty day moving average price of $16.16 and a two-hundred day moving average price of $16.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.67 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Monday, December 1st. The bank reported $0.67 earnings per share (EPS) for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The firm had revenue of $580.00 million for the quarter. Research analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kendall A. Kowalski sold 2,481 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the completion of the transaction, the insider owned 71,566 shares of the company’s stock, valued at approximately $1,273,874.80. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Inglis purchased 6,506 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the completion of the purchase, the director directly owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 87,863 shares of company stock valued at $1,396,634 over the last ninety days. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after acquiring an additional 680,601 shares during the period. Boston Partners lifted its position in shares of Huntington Bancshares by 3.9% during the 3rd quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock worth $1,091,615,000 after buying an additional 2,363,905 shares during the last quarter. Invesco Ltd. lifted its stake in Huntington Bancshares by 1.5% in the 3rd quarter. Invesco Ltd. now owns 59,062,922 shares of the bank’s stock valued at $1,020,017,000 after purchasing an additional 861,263 shares during the last quarter. Geode Capital Management LLC grew its position in Huntington Bancshares by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock worth $658,541,000 after acquiring an additional 640,852 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Huntington Bancshares by 15.7% during the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after purchasing an additional 4,640,302 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.