Truist Financial Raises Forecast for Huntington Bancshares Stock Price

Truist Financial has increased its target price for Huntington Bancshares (NASDAQ:HBAN) from $19.00 to $21.00 according to a research report released on Tuesday. The brokerage has assigned a "buy" rating to the bank's stock. The new price target suggests a potential upside of 22.77% from the last closing price of the company.

Several other analysts have also shared their insights regarding Huntington Bancshares. For instance, Sandler O'Neill reaffirmed their "buy" rating in a note published on October 18th. Additionally, JPMorgan Chase & Co. maintained an "overweight" rating and raised their price target from $18.50 to $20.00 on December 4th. Evercore ISI also increased their target from $17.00 to $18.00, labeling the stock as "outperform" on October 30th. Meanwhile, StockNews.com upgraded Huntington Bancshares from a "sell" to a "hold" rating on December 12th. Keefe, Bruyette & Woods also adjusted their price target from $16.00 to $19.00 while rating the stock as "market perform" on December 4th.

Overall Analyst Ratings

Despite differing opinions, the general consensus among analysts remains positive for Huntington Bancshares. One analyst has rated the stock as a "sell," while six have recommended a "hold" and thirteen have issued a "buy" rating. MarketBeat indicates that the stock has a consensus rating of "Moderate Buy" and an average price target of $17.88.

Huntington Bancshares Stock Performance

On Tuesday, Huntington Bancshares' stock rose by $0.10 during midday trading, reaching $17.11. The trading volume was 6,070,725 shares, which is lower than the average volume of 17,611,430 shares. The company maintains a market capitalization of $24.85 billion. Its stock has experienced a low of $12.05 and a high of $18.44 over the past year. Key financial ratios include a quick ratio of 0.88, a current ratio of 0.89, and a debt-to-equity ratio of 0.92.

In its most recent quarterly earnings report on January 17th, Huntington Bancshares reported earnings per share (EPS) of $0.34, beating estimates by $0.03. The company achieved a return on equity of 11.23% and a net margin of 16.23%. Analysts expect the company to post an estimated EPS of 1.36 for the current year.

Insider Trading Activities

Recent insider trading activities indicate some selling within the company. Vice President Scott D. Kleinman sold 28,600 shares on November 13th at an average price of $17.67, amounting to about $505,362. This decreased his holdings by approximately 5.45%. His remaining shares are valued at roughly $8.77 million. Additionally, CFO Zachary Jacob Wasserman sold 8,644 shares at an average price of $17.63, totaling $152,393. This represented a 3.22% reduction in his stake, bringing his remaining shares to an estimated value of $4.58 million. Over the last ninety days, insiders have sold 43,699 shares of stock worth $757,356, and company insiders hold about 0.92% of the company's stock.

Institutional Investments in Huntington Bancshares

Huntington Bancshares has seen a notable interest from institutional investors. For example, Asset Dedication LLC raised its stake in the company by an impressive 200.7% in the third quarter, now owning 1,801 shares worth approximately $26,000. Other institutions, such as Peoples Bank KS and Future Financial Wealth Management LLC, have also acquired new stakes in Huntington Bancshares recently. Overall, institutional and hedge funds own about 80.72% of the company's stock, suggesting a strong level of confidence in the bank's future.

Company Overview

Huntington Bancshares Incorporated serves as the bank holding company for The Huntington National Bank and offers a wide range of banking services in the United States. The bank provides various financial products including deposits, loans, payments, mortgage banking, investment management, and insurance services, catering to both consumer and business needs.

Huntington, Stock, Forecast