Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $22.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group raised its price target for Huntington Bancshares (NASDAQ:HBAN) from $21.00 to $22.00, indicating a potential upside of 26.20% from its current price.
• The stock currently holds a "Moderate Buy" average rating, with two analysts rating it as a Strong Buy and fifteen as Buy.
• Huntington Bancshares has recently seen increased institutional interest, with ownership by institutional investors now at 80.72%.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price objective upped by Jefferies Financial Group from $21.00 to $22.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a "buy" rating on the bank's stock. Jefferies Financial Group's price target suggests a potential upside of 26.20% from the company's current price.

Several other analysts have also issued reports on HBAN. 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 report on Tuesday, July 8th. Wolfe Research raised shares of 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. Citigroup increased their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. DA Davidson boosted their price objective on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.89.

Huntington Bancshares Trading Up 0.6%

Shares of HBAN opened at $17.43 on Wednesday. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The business has a 50-day moving average of $17.04 and a 200 day moving average of $15.88. The firm has a market cap of $25.43 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total value of $739,800.00. Following the transaction, the executive vice president owned 299,361 shares of the company's stock, valued at $5,388,498. This represents a 12.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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