Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $17.00 at Keefe, Bruyette & Woods

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price target lowered by Keefe, Bruyette & Woods from $18.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 18.06% from the stock's previous close.

HBAN has been the subject of a number of other reports. Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating for the company in a research report on Tuesday, January 21st. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Morgan Stanley decreased their price target on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Raymond James reissued a "strong-buy" rating and issued a $18.00 price objective (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.45.

Huntington Bancshares Price Performance

HBAN stock traded down $0.15 during trading on Monday, reaching $14.40. The company's stock had a trading volume of 17,839,315 shares, compared to its average volume of 17,360,714. The company has a market capitalization of $21.03 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 1 year low of $11.92 and a 1 year high of $18.45. The company's fifty day moving average is $14.60 and its 200-day moving average is $15.99.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the prior year, the business posted $0.27 earnings per share. On average, research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its board has initiated a share buyback program on Thursday, April 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares of the company's stock, valued at $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total value of $552,925.38. Following the transaction, the chief financial officer now owns 335,538 shares in the company, valued at $4,825,036.44. The trade was a 10.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,617 shares of company stock worth $2,942,892. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at $29,000. Smith Salley Wealth Management increased its stake in shares of Huntington Bancshares by 0.5% during the 1st quarter. Smith Salley Wealth Management now owns 170,036 shares of the bank's stock worth $2,552,000 after purchasing an additional 909 shares during the last quarter. Albion Financial Group UT purchased a new stake in Huntington Bancshares in the 1st quarter worth about $98,000. Amalgamated Bank raised its holdings in Huntington Bancshares by 1.7% during the 1st quarter. Amalgamated Bank now owns 284,623 shares of the bank's stock valued at $4,272,000 after acquiring an additional 4,886 shares during the period. Finally, Vista Investment Partners II LLC lifted its holdings in shares of Huntington Bancshares by 1.1% in the first quarter. Vista Investment Partners II LLC now owns 112,744 shares of the bank's stock worth $1,692,000 after buying an additional 1,176 shares in the last quarter. 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.