DA Davidson Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Key Points

• DA Davidson has raised its target price for Huntington Bancshares (NASDAQ:HBAN) from $20.00 to $21.00, indicating a potential upside of 33.63% from its current price.
• Huntington Bancshares is rated as a "buy" by several analysts, with a consensus recommendation of "Moderate Buy" and an average price target of $19.82.
• As of the recent trading session, shares of Huntington Bancshares opened at $15.72, showing a 1.4% increase.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price boosted by equities researchers at DA Davidson from $20.00 to $21.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the bank's stock. DA Davidson's price objective suggests a potential upside of 33.63% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "market perform" rating in a report on Monday. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the company an "overweight" rating in a report on Friday, October 10th. Finally, Jefferies Financial Group lifted their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $19.82.

Huntington Bancshares Trading Up 1.4%

Shares of NASDAQ HBAN opened at $15.72 on Monday. Huntington Bancshares has a twelve month low of $11.91 and a twelve month high of $18.44. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 0.73 and a beta of 0.96. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The company's fifty day moving average is $17.08 and its 200-day moving average is $16.12.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The business had revenue of $469.00 million for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. Equities research analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the transaction, the executive vice president owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently added to or reduced their stakes in HBAN. Accurate Wealth Management LLC increased its holdings in Huntington Bancshares by 3.5% in the second quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank's stock valued at $319,000 after purchasing an additional 611 shares during the period. LifeWealth Investments LLC lifted its stake in Huntington Bancshares by 2.3% in the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank's stock valued at $478,000 after buying an additional 632 shares during the period. Parcion Private Wealth LLC boosted its holdings in shares of Huntington Bancshares by 6.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank's stock worth $191,000 after buying an additional 648 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Huntington Bancshares by 0.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 164,551 shares of the bank's stock valued at $2,758,000 after acquiring an additional 668 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in shares of Huntington Bancshares by 2.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock valued at $436,000 after acquiring an additional 691 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

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.

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