Huntington Bancshares Incorporated (NASDAQ:HBAN) had its price target upped by equities researchers at Nomura from $16.00 to $17.00 in a research report issued to clients and investors on Thursday, October 26th. The brokerage presently has a “buy” rating on the bank’s stock. Nomura’s price objective would suggest a potential upside of 29.38% from the stock’s current price.
HBAN has been the subject of several other reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Friday, September 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.50 target price on shares of Huntington Bancshares in a research note on Tuesday, October 17th. JMP Securities began coverage on shares of Huntington Bancshares in a report on Thursday, August 31st. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Sanford C. Bernstein upgraded shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $15.00 to $17.00 in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $15.22.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at $13.14 on Thursday. The company has a market cap of $14,203.63, a P/E ratio of 13.69, a P/E/G ratio of 1.49 and a beta of 1.34. Huntington Bancshares has a 1-year low of $11.49 and a 1-year high of $14.74. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.11 EPS. analysts expect that Huntington Bancshares will post 0.98 earnings per share for the current fiscal year.
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In related news, EVP Daniel J. Neumeyer sold 43,491 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total value of $603,655.08. Following the completion of the transaction, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now directly owns 447,722 shares of the company’s stock, valued at approximately $5,690,546.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,004 shares of company stock valued at $1,006,859. 1.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Sun Life Financial INC boosted its stake in shares of Huntington Bancshares by 99,812.5% during the 2nd quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after buying an additional 7,985 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $134,000. Verition Fund Management LLC acquired a new stake in Huntington Bancshares in the second quarter worth $139,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Huntington Bancshares by 8.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock valued at $140,000 after purchasing an additional 834 shares during the period. Finally, Foster & Motley Inc. increased its holdings in shares of Huntington Bancshares by 2.2% during the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock valued at $142,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 73.84% of the company’s stock.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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