Jefferies Financial Group Lowers Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its price target cut by research analysts at Jefferies Financial Group from $22.00 to $21.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 28.76% from the company’s current price.

Several other research firms have also weighed in on HBAN. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, January 12th. Barclays raised their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Evercore assumed coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They issued an “outperform” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Piper Sandler lifted their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $16.31 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The firm’s 50-day simple moving average is $17.70 and its 200-day simple moving average is $17.08. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $19.45. The firm has a market cap of $33.11 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period in the previous year, the firm earned $0.34 EPS. As a group, research analysts expect that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 5,830 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total transaction of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares of the company’s stock, valued at $6,271,718.64. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James D. Rollins III acquired 4,915 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $17.65 per share, with a total value of $86,749.75. Following the transaction, the director owned 4,915 shares in the company, valued at approximately $86,749.75. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 26,488 shares of company stock worth $510,286 and sold 50,145 shares worth $929,885. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Huntington Bancshares by 4,265.5% during the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock worth $1,215,955,000 after buying an additional 68,478,435 shares in the last quarter. Norges Bank bought a new position in shares of Huntington Bancshares in the fourth quarter worth about $432,584,000. Vanguard Group Inc. raised its stake in shares of Huntington Bancshares by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock worth $3,319,385,000 after acquiring an additional 14,338,222 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of Huntington Bancshares during the third quarter worth approximately $85,690,000. Finally, Victory Capital Management Inc. lifted its position 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 in the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.