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

Key Points

• Huntington Bancshares' stock rating was upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more positive outlook for the bank.
• Several brokerages have increased their price targets for Huntington Bancshares, with Jefferies raising it to $22.00 and Citigroup to $21.00, both maintaining a "buy" rating.
• The company's stock recently opened at $15.60 and has experienced a 4.5% decrease, with a consensus rating of "Moderate Buy."

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

Several other brokerages have also recently commented on HBAN. Jefferies Financial Group raised their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Citigroup raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, September 19th. Weiss Ratings reissued a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Wednesday. Truist Financial raised their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $19.24.

Huntington Bancshares Stock Down 4.5%

Huntington Bancshares stock opened at $15.60 on Friday. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50 day moving average price of $17.10 and a 200 day moving average price of $16.06. The company has a market capitalization of $22.76 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 0.79 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. The firm had revenue of $469.00 million during the quarter. Research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MTM Investment Management LLC acquired a new position in Huntington Bancshares in the second quarter valued at $25,000. Family Legacy Financial Solutions LLC acquired a new position in Huntington Bancshares in the second quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in Huntington Bancshares in the second quarter valued at $30,000. Smallwood Wealth Investment Management LLC acquired a new position in Huntington Bancshares in the first quarter valued at $29,000. Finally, Quarry LP increased its stake in 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 during the period. 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.

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