Huntington Bancshares (HBAN) PT Lowered to $19 at Stephens

Stephens analyst Matt Olney lowered the price target on Huntington Bancshares (NASDAQ: HBAN) to $19.00 (from $20.00) while maintaining a Equal Weight rating.

The analyst commented: "HBAN's 2Q26 results were highlighted by strong fees and lower LLP expense that drove inline EPS results. However, the 2Q26 PPNR was 2.5% below consensus forecast, primarily driven by softer NII/NIM results. Despite the PPNR miss, the Company maintained its 2027 EPS outlook ($1.90-$1.93) which implies a considerable ramp from recent trends. Following the June systems integration, HBAN has focused on deal cost savings while updating the deposit pricing strategies that should support stronger profitability trends in 2H26. We think executing this strategy will be challenging due to increased competition pressure that leaves little room for error. We're lowering our 2027 EPS forecast by 1% (now at $1.87) to reflect the ongoing NII headwinds. Our $19 price target (was $20) represents 10x our 2027 EPS forecast and 1.77x our 12-month TBVPS forecast. Our rating is Equal-Weight."

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