TD Cowen Forecasts Strong Price Appreciation for Huntington Bancshares (NASDAQ:HBAN) Stock

Key Points

• TD Cowen has raised its price target for Huntington Bancshares from $21.00 to $22.00, suggesting a potential upside of 39.99% based on the stock's current price and maintaining a "buy" rating.
• Other analysts have also shown confidence in the stock, with a majority rating it as "buy" or "strong buy," and the average target price currently sits at $19.82.
• Insider trading activity includes EVP Marcy C. Hingst selling 41,100 shares at an average price of $18.00, marking a 12.07% reduction in their holdings.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price target upped by equities research analysts at TD Cowen from $21.00 to $22.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the bank's stock. TD Cowen's price objective indicates a potential upside of 39.99% from the company's current price.

A number of other equities analysts have also recently issued reports on HBAN. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price objective (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Huntington Bancshares from a "hold" rating to a "sell" rating in a research note on Sunday. Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "market perform" rating in a research report on Monday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Huntington Bancshares in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.82.

Huntington Bancshares Stock Up 1.4%

Shares of HBAN opened at $15.72 on Monday. The company has a market capitalization of $22.93 billion, a PE ratio of 10.93, a PEG ratio of 0.73 and a beta of 0.96. The stock's 50-day moving average price is $17.08 and its two-hundred day moving average price is $16.12. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. Huntington Bancshares has a 12 month low of $11.91 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The business had revenue of $469.00 million during the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. On average, analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 41,100 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company's stock.

Institutional Investors Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in 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 last quarter. Boston Partners increased its stake in Huntington Bancshares by 4.8% in the second quarter. Boston Partners now owns 60,939,048 shares of the bank's stock valued at $1,020,382,000 after acquiring an additional 2,776,429 shares during the last quarter. Invesco Ltd. lifted its position in Huntington Bancshares by 1.8% in the 2nd quarter. Invesco Ltd. now owns 58,201,659 shares of the bank's stock worth $975,460,000 after buying an additional 1,015,066 shares during the last quarter. Geode Capital Management LLC lifted its stake in Huntington Bancshares by 1.7% in the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank's stock worth $658,541,000 after purchasing an additional 640,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $475,558,000 after buying an additional 397,141 shares during the period. 80.72% of the stock is currently owned by 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.

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