Wolfe Research Upgrades Huntington Bancshares (HBAN) to Outperform

Huntington Bancshares Incorporated (NASDAQ:HBAN) is one of the best high growth stocks. On July 3, Wolfe Research upgraded HBAN to Outperform from Peer Perform with a price target of $21.

Wolfe Research’s upgrade indicates a positive outlook on Huntington’s net interest margin expansion prospects through 2026, supported by the favorable repricing of fixed-rate assets and the institution’s capacity to support loan growth with solid deposit accumulation.

In the aftermath of the March 2023 banking crisis, Huntington Bancshares has distinguished itself from peer institutions by achieving approximately 9% loan growth, while many of its competitors pursued balance sheet contraction as a risk mitigation strategy.

Over the same period, HBAN achieved approximately 14% growth in deposits, significantly outperforming its mid-cap peers by around 12 percentage points.

Wolfe Research estimates that Huntington has captured approximately 30 basis points of deposit market share since 2022, reflecting the bank’s competitive positioning within the sector. Over the past twelve months, Huntington’s revenue has grown by 5.2%, with analysts forecasting a further 15% increase in the current fiscal year, indicating strong underlying momentum.

Huntington Bancshares Incorporated (NASDAQ:HBAN) serves as the bank holding company for The Huntington National Bank, offering consumer, commercial, and mortgage banking solutions, including lending, deposit products, wealth and asset management, and capital markets.

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