RBC Capital Sticks to Their Buy Rating for Huntington Bancshares (HBAN)

RBC Capital analyst Jon Arfstrom maintained a Buy rating on Huntington Bancshares yesterday and set a price target of $21.00. The company’s shares closed yesterday at $17.64.

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According to TipRanks, Arfstrom is a 5-star analyst with an average return of 14.7% and a 60.12% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Huntington Bancshares, Associated Banc-Corp, and Columbia Banking System.

Currently, the analyst consensus on Huntington Bancshares is a Moderate Buy with an average price target of $20.46, representing a 15.99% upside. In a report released today, TD Cowen also maintained a Buy rating on the stock with a $23.00 price target.

Based on Huntington Bancshares’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.23 billion and a net profit of $629 million. In comparison, last year the company earned a revenue of $3.08 billion and had a net profit of $517 million

Based on the recent corporate insider activity of 234 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HBAN in relation to earlier this year. Last month, Kendall A Kowalski, the CIO of HBAN sold 4,028.00 shares for a total of $71,899.51.