Analyst Jon Arfstrom from RBC Capital has adjusted his outlook on Huntington Bancshares (HBAN, Financial), reducing the firm's price target for the bank's stock from $20 to $18. Despite this reduction in price target, Arfstrom maintains an "Outperform" rating on the shares.
Huntington Bancshares recently disclosed robust quarterly results, highlighting significant loan growth. This uptrend is attributed to contributions from new business ventures as well as its core banking operations. Additionally, the company demonstrated strong deposit growth, alongside an expansion in margins. These factors collectively contributed to the positive revenue trends observed in the recent quarter.
