Truist Financial Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $20.00

Key Points

• Truist Financial raised Huntington Bancshares’ price target from $19 to $20 and maintained a “buy” rating, implying 16.55% upside from the stock’s $17.16 price.
• Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $20.11, despite mixed recent actions from other brokerages.
• Huntington’s latest quarterly results met expectations with earnings of $0.39 per share and revenue of $2.85 billion, while the stock was down 1.2% in Tuesday trading.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price boosted by stock analysts at Truist Financial from $19.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. Truist Financial's price objective indicates a potential upside of 16.55% from the stock's current price.

A number of other brokerages have also weighed in on HBAN. Morgan Stanley reiterated an "equal weight" rating and set a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a report on Friday. Stephens decreased their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Friday. Weiss Ratings raised Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, July 6th. Barclays lowered Huntington Bancshares from a "hold" rating to a "strong sell" rating in a research report on Monday, April 20th. Finally, Wolfe Research cut their price target on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.11.

Huntington Bancshares Trading Down 1.2%

HBAN opened at $17.16 on Tuesday. The stock has a 50-day moving average of $17.16 and a 200 day moving average of $16.92. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. Huntington Bancshares has a 12 month low of $14.89 and a 12 month high of $19.45. The firm has a market cap of $34.79 billion, a P/E ratio of 13.30, a P/E/G ratio of 0.78 and a beta of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The business had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter in the previous year, the business posted $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, research analysts forecast that Huntington Bancshares will post 1.62 EPS for the current year.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares in the company, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the completion of the transaction, the director directly owned 612,155 shares of the company's stock, valued at $10,620,889.25. The trade was a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 22,000 shares of company stock valued at $401,219. Company insiders own 0.67% of the company's stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently bought and sold shares of the business. MV Capital Management Inc. purchased a new stake in Huntington Bancshares during the 4th quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of Huntington Bancshares in the third quarter valued at approximately $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. boosted its stake in shares of Huntington Bancshares by 48.8% in the first quarter. Johnson Financial Group Inc. now owns 2,157 shares of the bank's stock worth $34,000 after acquiring an additional 707 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Huntington Bancshares by 80.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,226 shares of the bank's stock worth $35,000 after purchasing an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

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