Piper Sandler Issues Pessimistic Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price target dropped by research analysts at Piper Sandler from $17.50 to $17.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 0.83% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Citigroup raised their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial raised their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Trading Down 1.4 %

NASDAQ:HBAN opened at $16.86 on Tuesday. Huntington Bancshares has a 12 month low of $12.05 and a 12 month high of $18.44. The firm has a fifty day simple moving average of $17.02 and a 200-day simple moving average of $15.55. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data 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 in the prior year, the company earned $0.27 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares will post 1.37 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction 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. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently bought and sold shares of the business. Asset Dedication LLC grew its stake in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $32,000. Finally, UMB Bank n.a. grew its stake in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after buying an additional 728 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.