Morgan Stanley Raises Huntington Bancshares (HBAN) Target, Cites Bank Sector Tailwinds

Huntington Bancshares Incorporated (NASDAQ:HBAN) is included among the 14 Best Dividend Stocks to Invest in Under $50.

On March 2, Morgan Stanley analyst Manan Gosalia raised the firm’s price recommendation on Huntington Bancshares Incorporated (NASDAQ:HBAN) to $23 from $21. The analyst reiterated an Overweight rating on the shares. The firm increased price targets across the midcap banks group by a median of about 8%. Gosalia noted that the group has recently outperformed, which means “the bar is higher from here.” Even so, Morgan Stanley remains positive on the sector. The firm pointed to support from loan growth, improvements in net interest margins, and continued capital returns.

Earlier in February, Huntington announced it had completed its merger with Cadence Bank, a regional bank headquartered in Houston, Texas, and Tupelo, Mississippi. The deal expands Huntington’s presence across Texas and the broader Southern region. The merger also provides immediate scale in key markets. Huntington is now the eighth-largest bank in Texas and the largest bank in Mississippi by deposit market share.

The combined company holds about $279 billion in assets, along with $221 billion in deposits and $187 billion in loans based on balances as of December 31, 2025. Cadence brings 390 branches across Texas and the South. With that addition, Huntington’s network grows to nearly 1,400 locations across 21 states, stretching from the Midwest through the South and into Texas.

Huntington said it plans to keep Cadence’s branch network in place, with no closures. The bank also intends to invest in expanding the network over time. For now, Cadence customers will continue using their existing branches as usual. Their accounts are expected to transition to Huntington’s systems around mid-2026. Customers will receive detailed information about the conversion in the coming weeks. Huntington customers will not be affected by the change.

Huntington Bancshares Incorporated (NASDAQ:HBAN) is a regional bank holding company headquartered in Columbus, Ohio, with $279 billion in assets. Founded in 1866, The Huntington National Bank and its affiliates provide services to consumers, small and middle-market businesses, corporations, municipalities, and other organizations.

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