Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $18.00 by Analysts at Citigroup

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by equities researchers at Citigroup from $20.00 to $18.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. Citigroup’s price target points to a potential upside of 17.92% from the company’s current price.

Several other equities research analysts have also weighed in on HBAN. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Friday, March 7th. Piper Sandler dropped their target price on shares of Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Stephens reaffirmed an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Huntington Bancshares Stock Up 1.6 %

Shares of Huntington Bancshares stock traded up $0.25 during trading on Monday, hitting $15.27. 3,190,709 shares of the stock traded hands, compared to its average volume of 16,287,934. The stock has a market cap of $22.30 billion, a P/E ratio of 12.41, a PEG ratio of 1.33 and a beta of 1.07. The company has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $16.13. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a twelve month low of $12.05 and a twelve month high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping 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%. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arvest Bank Trust Division acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $2,381,000. Mediolanum International Funds Ltd bought a new position in Huntington Bancshares during the fourth quarter worth about $422,000. Donoghue Forlines LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter worth about $1,460,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Huntington Bancshares by 5.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock valued at $12,414,000 after acquiring an additional 44,662 shares during the last quarter. Finally, Petiole USA ltd bought a new stake in Huntington Bancshares in the third quarter valued at approximately $3,454,000. 80.72% of the stock is 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.