Analyst update and valuation snapshot
Truist Securities increased its price target for Huntington Bancshares (NASDAQ:HBAN) to $21.00 from $20.00 on Monday, while maintaining a Buy rating on the regional lender's shares. The bank is trading around $17.30, below InvestingPro's Fair Value assessment. Current valuation metrics include a P/E ratio of 12.46 and a PEG ratio of 0.94, figures the research note highlights when considering Huntington's growth outlook relative to price.
Expense outlook and revenue synergies
In its analysis Truist suggested the firm may have reached a point of "max confusion" on expenses, indicating that the most acute expense-related issues could now be behind the company. The research team flagged potential upside to Huntington's top-line guidance if management begins to quantify and realize revenue synergies from its recent transactions. That assessment is consistent with Huntington's reported revenue growth of 10.88% over the past year.
Truist also recommended that the bank provide clearer disclosure on how cost savings from acquisitions are being redeployed, and what impact reinvestment will have on the company's expense run-rate by year-end. Improved clarity on those items would help investors better evaluate the bank's operating leverage and trajectory.
Longer-term earnings and shareholder returns
The research note reiterated Huntington's continued $2.00 earnings per share objective for 2027. At that target, Truist pointed out that the current share price would trade at under 9 times projected future earnings. The bank's commitment to returning capital to shareholders was also noted: Huntington has maintained dividend payments for 55 consecutive years and currently offers a yield of 3.57%.
Recent quarterly results and market reaction
Huntington reported fourth-quarter 2025 results that exceeded consensus on adjusted earnings per share, delivering $0.37 versus an expected $0.33. Revenue came in at $2.18 billion, slightly below the anticipated $2.2 billion. Raymond James responded to the earnings by raising its price target to $21.00 from $20.00 and keeping a Strong Buy rating, characterizing the release as "noisy" due to two recent acquisitions and some ambiguity around the company's 2026 outlook.
Despite the stronger-than-expected EPS, the stock declined in pre-market trading following the report. Analysts and investors continue to watch how integration of acquisitions and the clarification of cost savings and revenue synergies may influence performance going forward.
Research resources
InvestingPro provides a detailed Pro Research Report on Huntington and more than 1,400 other U.S. equities for subscribers seeking additional analysis and model outputs related to valuation and forecasts.
Key takeaways
- Truist raised the price target on HBAN to $21.00 from $20.00 and kept a Buy rating, citing potential resolution of expense uncertainties and upside from revenue synergies.
- Huntington reported Q4 2025 adjusted EPS of $0.37 versus the $0.33 consensus, while revenue of $2.18 billion narrowly missed the $2.2 billion estimate.
- Raymond James also raised its price target to $21.00 and maintained a Strong Buy, but described the earnings print as "noisy" amid acquisition-related integration and outlook questions.
Contextual risks and uncertainties
- Ongoing integration risk - The bank's recent acquisitions have created short-term reporting complexity and uncertainty around the 2026 outlook, affecting investor clarity and near-term stock performance.
- Expense run-rate ambiguity - Until Huntington provides clear disclosure on how cost savings are being reinvested and how that alters its expense trajectory, forecasting operating leverage remains uncertain.
- Market valuation sensitivity - With the stock trading below stated fair value metrics, valuation assumptions hinge on realization of projected revenue synergies and the achievability of the $2.00 2027 EPS target.