Truist Financial Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

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 price objective boosted by analysts at Truist Financial from $19.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Truist Financial's target price would suggest a potential upside of 14.03% from the company's previous close.

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

Huntington Bancshares Price Performance

HBAN stock traded up $0.11 during mid-day trading on Friday, hitting $17.54. The stock had a trading volume of 27,998,805 shares, compared to its average volume of 25,458,314. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44. The firm has a market capitalization of $25.59 billion, a P/E ratio of 12.99, a P/E/G ratio of 0.84 and a beta of 0.97. The firm has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $15.82.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Focus Partners Wealth raised its holdings in Huntington Bancshares by 4.5% during the 4th quarter. Focus Partners Wealth now owns 139,207 shares of the bank's stock valued at $2,265,000 after buying an additional 5,956 shares during the period. Gotham Asset Management LLC increased its stake in Huntington Bancshares by 28.9% in the fourth quarter. Gotham Asset Management LLC now owns 22,263 shares of the bank's stock worth $362,000 after purchasing an additional 4,997 shares during the period. Janus Henderson Group PLC increased its stake in Huntington Bancshares by 7.0% in the fourth quarter. Janus Henderson Group PLC now owns 222,753 shares of the bank's stock worth $3,628,000 after purchasing an additional 14,586 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Huntington Bancshares by 9.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 254,787 shares of the bank's stock worth $4,145,000 after purchasing an additional 21,334 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in Huntington Bancshares by 19.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 60,424 shares of the bank's stock worth $983,000 after purchasing an additional 10,032 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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.