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 price target on Huntington Bancshares Incorporated (NASDAQ:HBAN) to $16 from $15, while keeping an Underweight rating. The update followed the company’s release of slides for an upcoming conference, which highlighted a few key points: organic growth remains Huntington’s core strategy, the bank has a strong track record of successful integrations, it sees mergers and acquisitions as a way to fuel further organic expansion, and management believes the company has a solid model for creating value.
Earlier in October, Huntington Bancshares Incorporated (NASDAQ:HBAN) announced a definitive agreement to acquire Cadence Bank, a $53 billion regional bank with headquarters in Houston, Texas, and Tupelo, Mississippi. Following that, Huntington said it plans to reduce some jobs at Cadence as part of its $7.4 billion acquisition. The move will help the Ohio-based bank strengthen its presence in what management considers one of the three most attractive US markets. The bank has not shared exactly how many positions will be cut at Cadence, which has around 5,800 employees. The all-stock deal, announced in late October, is expected to close in the first quarter of 2026.
Over time, Huntington Bancshares Incorporated (NASDAQ:HBAN), which had more than 20,000 employees before the acquisition, may shift some rules from other regions to Texas as it focuses on growth in the new market.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a major US regional bank holding company, operating Huntington National Bank and offering a wide range of financial services.
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