Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its price objective hoisted by JPMorgan Chase & Co. from $20.00 to $21.00 in a report issued on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

HBAN has been the topic of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. Jefferies Financial Group upped their price target on shares of Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Keefe, Bruyette & Woods cut their price objective on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research report on Friday, January 23rd. TD Cowen upped their target price on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Argus increased their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $19.00 on Monday. Huntington Bancshares has a 12-month low of $11.91 and a 12-month high of $19.45. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.78 and a beta of 0.96. The stock’s 50 day moving average price is $17.77 and its two-hundred day moving average price is $16.97. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.3%. Huntington Bancshares’s payout ratio is currently 44.60%.

Insider Activity

In related news, insider Helga Houston sold 64,587 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the sale, the insider owned 534,640 shares of the company’s stock, valued at $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marcy C. Hingst sold 12,832 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the sale, the executive vice president owned 239,473 shares in the company, valued at $4,310,514. The trade was a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 103,693 shares of company stock worth $1,693,220. 0.89% of the stock is owned by insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC bought a new position in Huntington Bancshares in the second quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter valued at $26,000. South Plains Financial Inc. increased its stake in shares of Huntington Bancshares by 116.3% in the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock valued at $27,000 after purchasing an additional 826 shares during the last quarter. Accredited Wealth Management LLC raised its holdings in shares of Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Huntington Bancshares during the 3rd quarter worth $31,000. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.