Huntington Bancshares (NASDAQ:HBAN) Price Target Lowered to $19.00 at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its target price lowered by JPMorgan Chase & Co. from $21.00 to $19.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the bank’s stock.

HBAN has been the topic of several other research reports. Wolfe Research lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group lowered their price objective on shares of Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Truist Financial lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, January 12th. Finally, DA Davidson decreased their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.13.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.88 on Tuesday. The firm’s 50 day moving average price is $16.69 and its 200-day moving average price is $16.76. Huntington Bancshares has a twelve month low of $12.08 and a twelve month high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $32.35 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the company earned $0.34 EPS. Equities research analysts expect that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the sale, the vice president owned 481,676 shares in the company, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Torgow bought 14,200 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were purchased at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the purchase, the director owned 943,341 shares in the company, valued at $16,800,903.21. This trade represents a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. MV Capital Management Inc. bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. South Plains Financial Inc. raised its position in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after buying an additional 826 shares during the last quarter. Centennial Bank AR bought a new stake in shares of Huntington Bancshares during the fourth quarter valued at approximately $28,000. Finally, Accredited Wealth Management LLC raised its position in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after buying an additional 1,322 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.