Huntington Bancshares (NASDAQ:HBAN) Given "Strong-Buy" Rating at Raymond James Financial

Huntington Bancshares (NASDAQ:HBAN - Get Free Report)'s stock had its "strong-buy" rating reissued by stock analysts at Raymond James Financial in a research report issued on Tuesday,Benzinga reports. They currently have a $21.00 target price on the bank's stock, up from their previous target price of $18.00. Raymond James Financial's price objective points to a potential upside of 19.35% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada cut their target price on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $18.50 to $16.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Jefferies Financial Group started coverage on Huntington Bancshares in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price for the company. Finally, Stephens reaffirmed an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.48.

Huntington Bancshares Price Performance

HBAN stock traded up $0.18 during trading on Tuesday, reaching $17.60. 914,107 shares of the company were exchanged, compared to its average volume of 18,971,201. The company has a 50-day moving average of $16.00 and a two-hundred day moving average of $15.70. The company has a market capitalization of $25.70 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 1.33 and a beta of 0.93. Huntington Bancshares has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, equities analysts predict that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares announced that its board has authorized a stock repurchase plan on Thursday, April 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the bank to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 42,345 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $14.72, for a total transaction of $623,318.40. Following the completion of the sale, the insider owned 592,119 shares in the company, valued at $8,715,991.68. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 13,700 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the sale, the executive vice president owned 337,879 shares of the company's stock, valued at approximately $5,335,109.41. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC acquired a new position in shares of Huntington Bancshares during the first quarter valued at about $29,000. Quarry LP lifted its holdings in shares of Huntington Bancshares by 73.0% in 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 in the last quarter. LFA Lugano Financial Advisors SA bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $31,000. Golden State Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 516.3% in the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after purchasing an additional 1,869 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Huntington Bancshares in the first quarter valued at approximately $39,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

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.