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Huntington Bancshares (HBAN) Receives a Buy from RBC Capital

In a report issued on July 13, Jon Arfstrom from RBC Capital maintained a Buy rating on Huntington Bancshares (HBANResearch Report), with a price target of $16.00. The company’s shares closed last Thursday at $11.89, close to its 52-week low of $11.67.

According to TipRanks.com, Arfstrom is a 5-star analyst with an average return of 20.1% and a 53.5% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Old National Bancorp Capital, and Provident Financial Services.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Huntington Bancshares with a $14.90 average price target, representing a 25.4% upside. In a report issued on July 7, Robert W. Baird also maintained a Buy rating on the stock with a $17.00 price target.

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Based on Huntington Bancshares’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.65 billion and net profit of $460 million. In comparison, last year the company earned revenue of $1.37 billion and had a net profit of $532 million.

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HBAN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Huntington Bancshares, Inc. operates as a bank holding company. It 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. The company operates through the following segments: Consumer & Business Banking, Commercial Banking, Commercial Real Estate & Vehicle Finance, Regional Banking & The Huntington Private Client Group, and Home Lending. The Consumer & Business Banking segment provides financial products and services to consumer and small business customers including but not limited to checking accounts, savings accounts, money market accounts, certificates of deposit, investments, consumer loans, credit cards and small business loans. The Commercial Banking segment provides products and services to the middle market, large corporate, and government public sector customers located primarily within its geographic footprint. The segment is divided into following business units: Middle Market, Large Corporate, Specialty Banking, Asset Finance, Capital Markets, Treasury Management, and Insurance. The Commercial Real Estate & Vehicle Finance segment provides products and services include providing financing for land, buildings, and other commercial real estate owned or constructed by real estate developers, automobile dealerships, or other customers with real estate project financing needs, and financing for the purchase of automobiles, light-duty trucks, recreational vehicles and marine craft at franchised dealerships, financing the acquisition of new and used vehicle inventory of franchised automotive dealerships. The Regional Banking and The Huntington Private Client Group segment consists of private banking, wealth & investment management, and retirement plan services. The Home Lending segment originates and services consumer loans and mortgages for customers who are located in primary banking markets. Huntington Bancshares was founded in 1966 and is headquartered in Columbus, OH.

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