Huntington Bancshares (NASDAQ:HBAN) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial has raised its target price for Huntington Bancshares from $19.00 to $20.00, indicating a potential upside of 12.20% from the previous close, and retains a "buy" rating on the stock.
• Other analysts, including Wolfe Research and Jefferies Financial Group, have also upgraded their ratings and target prices, with Jefferies setting a potential price of $21.00.
• Insider trading activity includes the sale of 41,100 shares by EVP Marcy C. Hingst, indicating a 12.07% decrease in her holdings in the company.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price raised by analysts at Truist Financial from $19.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. Truist Financial's target price suggests a potential upside of 12.20% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Wolfe Research upgraded Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Thursday, July 3rd. Jefferies Financial Group increased their target price on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. DA Davidson increased their target price on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. TD Cowen began coverage on Huntington Bancshares in a report on Thursday, May 15th. They set a "buy" rating and a $20.00 target price for the company. Finally, Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $18.79.

Huntington Bancshares Trading Up 0.5%

Huntington Bancshares stock traded up $0.09 during mid-day trading on Friday, hitting $17.83. 15,912,138 shares of the company's stock were exchanged, compared to its average volume of 25,700,186. The firm has a market capitalization of $26.00 billion, a P/E ratio of 13.20, a PEG ratio of 0.85 and a beta of 0.97. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company's 50 day simple moving average is $17.00 and its 200-day simple moving average is $15.78.

Insider Transactions at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business's 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 in the company, valued at $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Huntington Bancshares by 1.3% during the second quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank's stock valued at $2,954,792,000 after purchasing an additional 2,343,244 shares during the period. Boston Partners raised its holdings in shares of Huntington Bancshares by 4.8% during the second quarter. Boston Partners now owns 60,939,048 shares of the bank's stock valued at $1,020,382,000 after purchasing an additional 2,776,429 shares during the period. Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 1.8% during the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank's stock valued at $975,460,000 after purchasing an additional 1,015,066 shares during the period. Geode Capital Management LLC raised its holdings in shares of Huntington Bancshares by 1.7% during the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank's stock valued at $658,541,000 after purchasing an additional 640,852 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Huntington Bancshares by 1.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank's stock worth $475,558,000 after acquiring an additional 397,141 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.