Evercore ISI Boosts Huntington Bancshares (NASDAQ:HBAN) Price Target to $16.00

Huntington Bancshares (NASDAQ:HBAN) had its target price raised by equities research analysts at Evercore ISI from $15.00 to $16.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Evercore ISI’s target price would indicate a potential upside of 15.36% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $15.00 in a report on Tuesday, January 2nd. Raymond James upped their price objective on shares of Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 26th. Citigroup increased their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price target on shares of Huntington Bancshares from $12.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.72.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded up $0.08 during trading on Thursday, reaching $13.87. The company had a trading volume of 4,812,480 shares, compared to its average volume of 17,622,324. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a 12 month low of $9.13 and a 12 month high of $13.89. The company has a fifty day moving average of $12.98 and a two-hundred day moving average of $11.78. The stock has a market capitalization of $20.11 billion, a P/E ratio of 11.16 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.15. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period last year, the company posted $0.43 EPS. Equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now directly owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now directly owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,241 shares of company stock worth $1,360,359. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently bought and sold shares of HBAN. Tyler Stone Wealth Management acquired a new stake in Huntington Bancshares during the 2nd quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter valued at approximately $29,000. Nemes Rush Group LLC grew its position in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the last quarter. Clear Street Markets LLC grew its position in Huntington Bancshares by 81.6% during the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after buying an additional 1,272 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $33,000. 80.72% of the stock is currently owned by 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.