Jefferies Financial Group Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Key Points

• Jefferies Financial Group has raised its price target for Huntington Bancshares from $19.00 to $21.00, indicating a potential upside of 18.78% from the current stock price.
• Despite this positive rating from Jefferies, other analysts like Wall Street Zen have lowered their recommendations, with a majority of analysts still classifying it as a Moderate Buy.
• Huntington Bancshares stock is currently trading down 0.7% with a market cap of $25.79 billion and P/E ratio of 13.10.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price hoisted by investment analysts at Jefferies Financial Group from $19.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Jefferies Financial Group's price target would suggest a potential upside of 18.78% from the stock's current price.

Several other equities analysts have also commented on the company. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Citigroup boosted 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, July 2nd. Truist Financial increased their target price on Huntington Bancshares from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wolfe Research raised 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, Cowen assumed coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Two research 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.74.

Huntington Bancshares Stock Down 0.7%

HBAN opened at $17.68 on Wednesday. The firm has a market cap of $25.79 billion, a P/E ratio of 13.10, a PEG ratio of 0.91 and a beta of 0.97. The business's fifty day simple moving average is $16.89 and its 200 day simple moving average is $15.72. Huntington Bancshares has a 52 week low of $11.91 and a 52 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.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction 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 $5,335,109.41. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.89% of the company's stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC lifted its stake in shares of Huntington Bancshares by 5.3% in the second quarter. Orion Porfolio Solutions LLC now owns 341,095 shares of the bank's stock worth $5,717,000 after acquiring an additional 17,093 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Huntington Bancshares by 2.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 126,830 shares of the bank's stock valued at $2,123,000 after purchasing an additional 3,036 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Huntington Bancshares during the 2nd quarter valued at approximately $413,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the second quarter worth approximately $323,000. Finally, Advisory Services Network LLC increased its stake in shares of Huntington Bancshares by 22.9% in the second quarter. Advisory Services Network LLC now owns 28,953 shares of the bank's stock worth $476,000 after buying an additional 5,388 shares during the last quarter. 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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