Royal Bank of Canada Reaffirms “Outperform” Rating for Huntington Bancshares (NASDAQ:HBAN)

Huntington Bancshares (NASDAQ:HBAN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $20.00 price objective on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 21.51% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods upped their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. DA Davidson increased their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Evercore ISI boosted their price objective 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. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Huntington Bancshares Stock Up 1.1 %

Shares of NASDAQ:HBAN opened at $16.46 on Monday. The company has a market capitalization of $23.91 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 1 year low of $12.02 and a 1 year high of $18.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The business has a fifty day moving average price of $16.84 and a two-hundred day moving average price of $15.00.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the prior year, the business earned $0.36 earnings per share. Analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insider Activity

In related news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Asset Dedication LLC increased its stake in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new stake in Huntington Bancshares in the third quarter worth $29,000. Hazlett Burt & Watson Inc. raised its holdings in 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 buying an additional 2,003 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the third quarter worth approximately $31,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $32,000. 80.72% of the stock is owned by hedge funds and other 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.