Huntington Bancshares (NASDAQ:HBAN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage currently has a $17.00 target price on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 5.72% from the stock’s current price.
According to Zacks, “Shares of Huntington have outperformed the industry over the past six months. Further, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate in two of the trailing four quarters. With the Fed rate hikes, margin pressure for the company finally seems to be easing. Moreover, rising loans and deposits along with improved credit quality are tailwinds. Further, a lower corporate tax rate is likely to support financials. Also, the company's strong liquidity position keeps it well poised to expand through strategic initiatives, which will support profitability in the long run.”
A number of other research analysts also recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $15.00 to $17.00 in a research report on Thursday, September 14th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $14.50 to $16.50 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. BidaskClub upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Barclays upped their price target on shares of Huntington Bancshares from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Nomura upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.75.
Huntington Bancshares (NASDAQ HBAN) opened at $16.08 on Tuesday. The stock has a market cap of $17,380.00, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.94. Huntington Bancshares has a 1-year low of $12.14 and a 1-year high of $16.53.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. During the same period in the previous year, the company earned $0.18 earnings per share. sell-side analysts anticipate that Huntington Bancshares will post 1.2 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. Marshall Wace North America L.P. purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at $256,000. Pacer Advisors Inc. grew its position in shares of Huntington Bancshares by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 21,897 shares of the bank’s stock valued at $296,000 after buying an additional 1,693 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Huntington Bancshares by 1.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,692,950 shares of the bank’s stock valued at $22,889,000 after buying an additional 28,348 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Huntington Bancshares by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,766 shares of the bank’s stock valued at $1,092,000 after buying an additional 216 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at $227,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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