UBS Group Increases Huntington Bancshares (NASDAQ:HBAN) Price Target to $22.00

Key Points

• UBS Group raised its price target on Huntington Bancshares to $22 from $21 and kept a buy rating, implying about 22% upside from the current share price.
• Analyst sentiment on HBAN remains constructive overall, with the stock holding a Moderate Buy consensus and a market-average price target of $20.25, despite some mixed target changes from other firms.
• Huntington Bancshares also reported a stronger-than-expected quarter, beating EPS and revenue estimates, while recent insider sales and ongoing institutional ownership changes show active trading around the stock.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its target price hoisted by equities researchers at UBS Group from $21.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. UBS Group's price target would suggest a potential upside of 22.12% from the stock's current price.

HBAN has been the subject of several other research reports. Morgan Stanley upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Stephens initiated coverage on Huntington Bancshares in a research note on Monday, June 15th. They issued an "equal weight" rating and a $19.00 target price for the company. The Goldman Sachs Group lowered their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, DA Davidson decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Huntington Bancshares Price Performance

Shares of Huntington Bancshares stock opened at $18.02 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $36.52 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The firm has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $16.90. Huntington Bancshares has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. Analysts expect that Huntington Bancshares will post 1.62 EPS for the current year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on 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 directly owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares in the company, valued at $10,620,889.25. This represents a 26.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 33,500 shares of company stock valued at $617,542 over the last quarter. Corporate insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HBAN. CIBC Asset Management Inc grew its holdings in Huntington Bancshares by 24.5% during the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank's stock worth $9,248,000 after acquiring an additional 104,965 shares during the period. KBC Group NV boosted its position in shares of Huntington Bancshares by 16.3% in the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank's stock worth $48,941,000 after purchasing an additional 395,489 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Huntington Bancshares by 688.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank's stock worth $1,500,000 after purchasing an additional 75,516 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Huntington Bancshares by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank's stock worth $141,625,000 after purchasing an additional 1,652,464 shares during the period. Finally, SageView Advisory Group LLC bought a new stake in Huntington Bancshares in the third quarter valued at about $2,163,000. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

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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