Huntington Bancshares Reaffirmed as 'Outperform' Stock by Royal Bank Of Canada
Huntington Bancshares (NASDAQ:HBAN) has been reaffirmed as an 'outperform' stock by Royal Bank Of Canada, according to a research note issued on Tuesday. The bank currently has a price objective of $21.00, which would indicate a potential upside of 16.99% from the company's current price.
This is not the first time that analysts have expressed optimism about Huntington Bancshares' stock performance. Several other equities analysts have also commented on HBAN in recent weeks, with Morgan Stanley reiterating an 'equal weight' rating and setting a target price of $19.00, while Bank of America reaffirmed a 'neutral' rating and set a target price of $18.50.
Despite the differing opinions among analysts, Huntington Bancshares has seen significant activity in recent months, with Director James D. Rollins III selling 223,522 shares of the company's stock in June for an average price of $17.35. EVP Marcy C. Hingst also sold 10,568 shares in June at an average price of $18.00.
As of the end of July, Huntington Bancshares had a market cap of $36.27 billion and a debt-to-equity ratio of 0.63. The company's operations are centered on retail and commercial banking, with product offerings including traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.