Raymond James Believes Huntington Bancshares Inc (NASDAQ: HBAN) Won’t Stop Here

By Jason Carr

Raymond James analyst David Long maintained a Buy rating on Huntington Bancshares Inc (NASDAQ: HBAN) yesterday and set a price target of $16. The company’s shares closed yesterday at $14.52, close to its 52-week high of $14.93.

Long noted:

“We reiterate our Outperform rating on HBAN shares following the company’s improved outlook for 4Q and 2018 made in a recent investor presentation. We remain bullish on HBAN long-term given its strong management team, the bank’s likely realization of material synergies from its acquisition of FirstMerit, and our expectations for above-peer profitability metrics and EPS growth over time.”

According to TipRanks.com, Long is a 5-star analyst with an average return of 12.2% and a 76.2% success rate. Long covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Farmers National Banc Corp Oh.

Currently, the analyst consensus on Huntington Bancshares Inc is Moderate Buy and the average price target is $14.71, representing a 1.3% upside.

In a report issued on December 5, Piper Jaffray also reiterated a Buy rating on the stock with a $16.50 price target.

Huntington Bancshares Inc’s market cap is currently $15.7B and has a P/E ratio of 17.51. The company has a book value ratio of 1.6302.

Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is negative on the stock.

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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.