Piper Sandler Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price target lowered by equities research analysts at Piper Sandler from $17.50 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Piper Sandler’s price target would indicate a potential upside of 0.83% from the company’s current price.

A number of other equities analysts have also recently weighed in on HBAN. Citigroup increased their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods increased their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average target price of $18.06.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.86 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $24.49 billion, a P/E ratio of 13.71, a PEG ratio of 2.64 and a beta of 1.07. The company has a 50 day moving average price of $17.02 and a 200 day moving average price of $15.55. Huntington Bancshares has a fifty-two week low of $12.05 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.37 EPS for the current year.

Insider Buying and Selling

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. Asset Dedication LLC grew its position in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares during the 3rd quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the 3rd quarter worth $31,000. Fortitude Family Office LLC purchased a new position in Huntington Bancshares during the 3rd quarter worth $32,000. Finally, UMB Bank n.a. grew its position in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after purchasing an additional 728 shares during the last quarter. 80.72% of the stock is 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.