Huntington Bancshares (NASDAQ:HBAN) PT Lowered to $10.50 at Morgan Stanley

Huntington Bancshares (NASDAQ:HBAN) had its price objective decreased by Morgan Stanley from $13.00 to $10.50 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target suggests a potential upside of 16.34% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Deutsche Bank dropped their price objective on shares of Huntington Bancshares from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Nomura reaffirmed a “hold” rating and issued a $14.00 price target on shares of Huntington Bancshares in a research note on Monday, January 27th. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday, March 9th. Raymond James lowered their target price on Huntington Bancshares from $17.00 to $15.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Cfra dropped their target price on Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.56.

HBAN traded up $0.21 during trading on Tuesday, reaching $9.03. The company had a trading volume of 20,603,422 shares, compared to its average volume of 13,590,879. The firm’s 50-day simple moving average is $9.99 and its 200 day simple moving average is $13.38. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.53 and a beta of 1.63. Huntington Bancshares has a 12-month low of $6.82 and a 12-month high of $15.63. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a net margin of 24.95% and a return on equity of 13.44%. During the same period last year, the firm earned $0.29 EPS. On average, sell-side analysts expect that Huntington Bancshares will post 1.08 EPS for the current year.

In related news, Director Richard W. Neu acquired 5,900 shares of the stock in a transaction dated Monday, January 27th. The shares were acquired at an average price of $13.48 per share, with a total value of $79,532.00. Following the acquisition, the director now owns 216,516 shares in the company, valued at approximately $2,918,635.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. CFM Wealth Partners LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at about $25,000. Litman Gregory Asset Management LLC acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $26,000. TFG Advisers LLC acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $29,000. Raab & Moskowitz Asset Management LLC acquired a new stake in Huntington Bancshares in the 4th quarter valued at approximately $37,000. Finally, Quadrant Capital Group LLC grew its holdings in Huntington Bancshares by 128.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,062 shares of the bank’s stock valued at $39,000 after buying an additional 1,722 shares during the last quarter. 76.25% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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