Weiss Ratings Reiterates "Buy (B-)" Rating for Huntington Bancshares (NASDAQ:HBAN)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Huntington Bancshares (NASDAQ:HBAN), reflecting confidence in the bank's performance.
• Several other financial institutions have increased their price targets for HBAN, with estimates now ranging from $20.00 to $23.00.
• Insider activity includes the sale of over 41,000 shares by EVP Marcy C. Hingst, indicating potential shifts in management's confidence or strategy.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report)'s stock had its "buy (b-)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

HBAN has been the topic of a number of other research reports. Truist Financial boosted their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Morgan Stanley raised their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Finally, DA Davidson upped their target price on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.24.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.34 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The stock has a market cap of $23.84 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.81 and a beta of 0.96. The firm's fifty day simple moving average is $17.11 and its 200-day simple moving average is $16.05.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated 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 owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company's stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FCG Investment Co boosted its position in Huntington Bancshares by 13.1% during the third quarter. FCG Investment Co now owns 24,254 shares of the bank's stock worth $419,000 after acquiring an additional 2,811 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Huntington Bancshares by 3.1% during the 3rd quarter. Wedmont Private Capital now owns 27,294 shares of the bank's stock worth $457,000 after purchasing an additional 808 shares during the period. Czech National Bank increased its stake in Huntington Bancshares by 4.6% in the third quarter. Czech National Bank now owns 372,304 shares of the bank's stock valued at $6,430,000 after purchasing an additional 16,208 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Huntington Bancshares by 15.7% in the third quarter. Salem Investment Counselors Inc. now owns 52,243 shares of the bank's stock valued at $910,000 after purchasing an additional 7,090 shares during the last quarter. Finally, Oak Thistle LLC increased its stake in Huntington Bancshares by 72.6% in the third quarter. Oak Thistle LLC now owns 248,946 shares of the bank's stock valued at $4,299,000 after purchasing an additional 104,698 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other 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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