Huntington Bancshares (NASDAQ:HBAN) Coverage Initiated by Analysts at Wolfe Research

Stock analysts at Wolfe Research initiated coverage on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “peer perform” rating on the bank’s stock.

A number of other analysts also recently commented on HBAN. Citigroup dropped their price objective on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Morgan Stanley reissued an “equal weight” rating and set a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. UBS Group set a $18.00 price target on Huntington Bancshares in a research report on Tuesday, October 6th. Finally, Bank of America restated a “neutral” rating and set a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.73 on Tuesday. Huntington Bancshares has a 1 year low of $14.82 and a 1 year high of $19.45. The firm has a 50 day moving average price of $16.09 and a 200 day moving average price of $16.75. The company has a market cap of $31.78 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. During the same quarter last year, the firm posted $0.41 earnings per share. Sell-side analysts predict that Huntington Bancshares will post 1.54 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In related news, insider Kendall Kowalski sold 27,971 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Huntington Bancshares during the third quarter worth $163,000. Center for Financial Planning Inc. grew its holdings in Huntington Bancshares by 11.1% during the 3rd quarter. Center for Financial Planning Inc. now owns 24,128 shares of the bank’s stock valued at $368,000 after purchasing an additional 2,406 shares in the last quarter. Randolph Co Inc acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $28,443,000. Citizens Financial Group Inc. RI grew its holdings in Huntington Bancshares by 44.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 39,335 shares of the bank’s stock valued at $604,000 after purchasing an additional 12,149 shares in the last quarter. Finally, Gibbs Wealth Management increased its stake in Huntington Bancshares by 42.2% during the 3rd quarter. Gibbs Wealth Management now owns 19,205 shares of the bank’s stock worth $293,000 after buying an additional 5,695 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.