DA Davidson raised the firm’s price target on Huntington Bancshares (HBAN) to $17.50 from $16.50 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s asset sensitive balance sheet will pressure the net interest margin in Q4 with the 50bp rate cut, which is masking peer leading loan and deposit growth, but more importantly, its net interest income and net interest margin are is expected to trough in Q4 and to increase throughout 2025, the analyst tells investors in a research note.
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