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Huntington Bancshares (NASDAQ:HBAN) Given New $15.00 Price Target at Evercore ISI

Huntington Bancshares logo with Finance background

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price objective reduced by stock analysts at Evercore ISI from $16.50 to $15.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Evercore ISI's price target suggests a potential upside of 17.65% from the company's current price.

Several other brokerages also recently commented on HBAN. JPMorgan Chase & Co. dropped their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, June 14th. UBS Group dropped their price target on Huntington Bancshares from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, June 13th. StockNews.com cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Wednesday, June 19th. Jefferies Financial Group raised Huntington Bancshares from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, DA Davidson upgraded shares of Huntington Bancshares from a "neutral" rating to a "buy" rating and increased their target price for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.07.


Read Our Latest Report on Huntington Bancshares

Huntington Bancshares Trading Down 1.8 %

NASDAQ:HBAN traded down $0.23 during trading hours on Tuesday, hitting $12.75. The stock had a trading volume of 20,257,642 shares, compared to its average volume of 16,922,334. The business's 50 day moving average is $13.44 and its 200-day moving average is $13.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.37 and a beta of 1.08. Huntington Bancshares has a one year low of $9.25 and a one year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.38 EPS. Sell-side analysts anticipate that Huntington Bancshares will post 1.2 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the transaction, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,829 shares of company stock worth $2,148,623. Company insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently modified their holdings of HBAN. Wetzel Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter valued at approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at $29,000. Nemes Rush Group LLC grew its holdings in shares of Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank's stock worth $30,000 after purchasing an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Huntington Bancshares in the first quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in Huntington Bancshares in the fourth quarter valued at about $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

(Get Free Report)

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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