Keefe, Bruyette & Woods Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by stock analysts at Keefe, Bruyette & Woods from $16.00 to $19.00 in a research note issued to investors on Wednesday,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 8.45% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Evercore ISI lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Barclays upped their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, DA Davidson lifted their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.24.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded down $0.11 during trading on Wednesday, reaching $17.52. The company had a trading volume of 4,381,188 shares, compared to its average volume of 15,858,212. Huntington Bancshares has a one year low of $11.57 and a one year high of $18.44. The company has a market capitalization of $25.45 billion, a PE ratio of 16.82, a PEG ratio of 3.55 and a beta of 1.06. The firm’s 50 day simple moving average is $16.18 and its two-hundred day simple moving average is $14.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter last year, the company earned $0.36 earnings per share. Sell-side analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Activity

In other news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds have recently added to or reduced their stakes in HBAN. Asset Dedication LLC boosted its position in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in shares of Huntington Bancshares in the third quarter worth about $29,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after acquiring an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the third quarter valued at $31,000. Finally, Fortitude Family Office LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $32,000. 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.