Huntington Bancshares (NASDAQ:HBAN) Raised to Hold at Wall Street Zen

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other research analysts have also commented on the stock. Citigroup raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday. Jefferies Financial Group started coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price objective for the company. Truist Financial raised their price objective on shares of Huntington Bancshares from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Baird R W raised shares of Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Argus set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.33.

Huntington Bancshares Price Performance

Shares of HBAN opened at $17.51 on Friday. Huntington Bancshares has a 1-year low of $11.92 and a 1-year high of $18.45. The stock has a market cap of $25.58 billion, a PE ratio of 13.37, a P/E/G ratio of 1.34 and a beta of 0.93. The firm has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $15.67. 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 announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the business earned $0.27 earnings per share. As a group, analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

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

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the firm'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 transaction 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 trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 42,345 shares of the firm'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 sale, the insider directly owned 592,119 shares in the company, valued at approximately $8,715,991.68. The trade was a 6.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,375 shares of company stock valued at $3,049,277 in the last quarter. Company insiders own 0.89% of the company's stock.

Institutional Trading of Huntington Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC acquired a new stake in Huntington Bancshares during the first quarter worth approximately $29,000. Quarry LP increased its holdings in shares of Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after acquiring an additional 814 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $31,000. Golden State Wealth Management LLC increased its holdings in shares of Huntington Bancshares by 516.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 80.72% of the company's stock.

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.

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