Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $18.00 by Analysts at Argus

Key Points

• Argus cut its price target for Huntington Bancshares to $18 from $20 but maintained a Buy rating, implying 11.49% upside from the prior close.
• Analyst views are mixed, though the consensus remains “Moderate Buy” with an average target of $18.89; ratings include 14 Buys, seven Holds, and two Sells.
• Huntington reported quarterly EPS of $0.38, matching consensus, while revenue of $2.79 billion came in below the $2.82 billion estimate.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price decreased by analysts at Argus from $20.00 to $18.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Argus's price target would suggest a potential upside of 11.49% from the company's previous close.

A number of other research analysts have also weighed in on HBAN. Zacks Research lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Wolfe Research downgraded Huntington Bancshares from an "outperform" rating to a "peer perform" rating in a report on Tuesday, October 27th. Keefe, Bruyette & Woods decreased their target price on shares of Huntington Bancshares from $19.50 to $18.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 6th. JPMorgan Chase & Co. upped their price target on shares of Huntington Bancshares from $17.50 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Finally, Bank of America cut Huntington Bancshares from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $18.50 in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.89.

Huntington Bancshares Stock Performance

HBAN traded up $0.09 during trading on Thursday, reaching $16.14. The company's stock had a trading volume of 2,120,624 shares, compared to its average volume of 26,900,350. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91. The company's fifty day moving average price is $15.90 and its 200-day moving average price is $16.68. Huntington Bancshares has a 52-week low of $14.82 and a 52-week high of $19.45. The company has a market capitalization of $32.62 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its earnings results on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.38. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. During the same period in the prior year, the business posted $0.41 EPS. On average, equities analysts forecast that Huntington Bancshares will post 1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James D. Rollins III acquired 14,000 shares of the business's stock in a transaction dated Monday, October 26th. The stock was acquired at an average price of $18.12 per share, with a total value of $253,680.00. Following the completion of the transaction, the director directly owned 15,500 shares in the company, valued at approximately $280,860. This represents a 933.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donnell R. White sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $15.87, for a total transaction of $47,610.00. Following the transaction, the senior vice president directly owned 23,697 shares in the company, valued at $376,071.39. The trade was a 11.24% decrease in their position. The SEC filing for this sale provides additional information. 0.67% of the stock is owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Means Investment CO. Inc. acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at about $165,000. Trust Co. of Vermont bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at about $29,000. TD Waterhouse Canada Inc. raised its stake in Huntington Bancshares by 90.7% during the third quarter. TD Waterhouse Canada Inc. now owns 1,682 shares of the bank's stock worth $26,000 after acquiring an additional 800 shares during the period. Johnson Financial Group Inc. acquired a new stake in Huntington Bancshares during the second quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Huntington Bancshares during the second quarter worth about $35,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

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