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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.

A professional banker with a stack of mortgage papers and a pen in hand, ready to make the deal.

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.

While we acknowledge the risk and potential of HBAN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HBAN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Dow 20 Stocks List: Ranked By Hedge Fund Bullishness Index and 10 Unstoppable Dividend Stocks to Buy Now.

Disclosure. None.

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