Raymond James has revised its price target for Huntington Bancshares (HBAN, Financial), reducing it from $20 to $18, while maintaining a Strong Buy rating on the stock. Despite the adjustment, the analyst highlighted the company's impressive first-quarter results, which featured favorable trends in net interest income and net interest margin.
The financial institution demonstrated robust growth in its balance sheet and maintained credit metrics that are considered manageable. The analyst emphasized Huntington Bancshares' strategic focus on relationship banking and its appealing core deposit base as significant strengths. Additionally, the company’s multiple opportunities for organic growth, superior profitability, stringent underwriting practices, and strong leadership are seen as factors warranting a premium valuation.
This combination of strategic initiatives and financial strength positions Huntington Bancshares as a compelling investment, according to Raymond James.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Huntington Bancshares Inc (HBAN, Financial) is $17.65 with a high estimate of $21.00 and a low estimate of $15.00. The average target implies an upside of 29.12% from the current price of $13.67. More detailed estimate data can be found on the Huntington Bancshares Inc (HBAN) Forecast page.
Based on the consensus recommendation from 21 brokerage firms, Huntington Bancshares Inc's (HBAN, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Huntington Bancshares Inc (HBAN, Financial) in one year is $15.19, suggesting a upside of 11.12% from the current price of $13.67. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Huntington Bancshares Inc (HBAN) Summary page.
