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.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HBAN:
- Huntington Bancshares price target raised to $15 from $14 at Piper Sandler
- Huntington Bancshares price target raised to $17 from $15 at Barclays
- Morning Movers: TSMC surges and Elevance Health sinks after quarterly results
- Huntington Bancshares sees Q4 NII flat to up 1% y/y
- Huntington Bancshares sees FY24 NII down 1%-4%