Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Key Points

• Deutsche Bank Aktiengesellschaft has increased its target price for Huntington Bancshares from $20.00 to $21.00, indicating a potential upside of 21.04% based on the stock's previous close.
• A wide range of analysts maintain a positive outlook on the stock, with two analysts rating it a Strong Buy and fifteen giving a Buy rating.
• Huntington Bancshares has a market capitalization of $25.31 billion and has consistently shown strong performance, with a 12-month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price upped by stock analysts at Deutsche Bank Aktiengesellschaft from $20.00 to $21.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has a "buy" rating on the bank's stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 21.04% from the stock's previous close.

A number of other research analysts have also issued reports on the company. DA Davidson lifted their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Raymond James Financial reissued a "strong-buy" rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Truist Financial increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, September 12th. Citigroup upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Finally, Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $19.24.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.35 on Tuesday. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.44. The firm has a market capitalization of $25.31 billion, a PE ratio of 12.85, a P/E/G ratio of 0.84 and a beta of 0.96. The company's 50 day simple moving average is $17.08 and its 200 day simple moving average is $15.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president owned 299,361 shares of the company's stock, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company's stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Family Legacy Financial Solutions LLC acquired a new position in shares of Huntington Bancshares during the second quarter valued at $25,000. MTM Investment Management LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new position in Huntington Bancshares during the 1st quarter worth approximately $29,000. Quarry LP grew its holdings in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Huntington Bancshares in the second quarter worth $30,000. 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.

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