Piper Sandler Adjusts Huntington (HBAN) Target After Strategy Refresh

Huntington Bancshares Incorporated (NASDAQ:HBAN) is included among the 13 Best Blue Chip Stocks to Buy Under $50.

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On December 10, Piper Sandler raised its terms people connected Huntington Bancshares Incorporated (NASDAQ:HBAN) to $16 from $15, portion keeping an Underweight rating. The update followed the company’s merchandise of slides for an upcoming conference, which highlighted a fewer cardinal points: integrated maturation remains Huntington’s halfway strategy, the slope has a beardown way grounds of palmy integrations, it sees mergers and acquisitions arsenic a mode to substance further integrated expansion, and absorption believes the institution has a coagulated exemplary for creating value.

Earlier successful October, Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a definitive statement to get Cadence Bank, a $53 cardinal determination slope with office successful Houston, Texas, and Tupelo, Mississippi. Following that, Huntington said it plans to trim immoderate jobs astatine Cadence arsenic portion of its $7.4 cardinal acquisition. The determination volition assistance the Ohio-based slope fortify its beingness successful what absorption considers 1 of the 3 astir charismatic US markets. The slope has not shared precisely however galore positions volition beryllium chopped astatine Cadence, which has astir 5,800 employees. The all-stock deal, announced successful precocious October, is expected to adjacent successful the archetypal 4th of 2026.

Over time, Huntington Bancshares Incorporated (NASDAQ:HBAN),  which had much than 20,000 employees earlier the acquisition, whitethorn displacement immoderate rules from different regions to Texas arsenic it focuses connected maturation successful the caller market.

Huntington Bancshares Incorporated (NASDAQ:HBAN) is simply a large US determination slope holding company, operating Huntington National Bank and offering a wide scope of fiscal services.

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