JPMorgan Chase & Co. Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.00

Huntington Bancshares (NASDAQ:HBAN) had its price target lowered by JPMorgan Chase & Co. from $18.00 to $17.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

HBAN has been the topic of a number of other reports. Morgan Stanley cut their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a research report on Wednesday, June 12th. DA Davidson raised Huntington Bancshares from a neutral rating to a buy rating and lifted their target price for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an outperform rating and issued a $16.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Bank of America upgraded Huntington Bancshares from a neutral rating to a buy rating and boosted their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Finally, Stephens reiterated an equal weight rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $15.13.

Huntington Bancshares Trading Up 0.2 %

NASDAQ HBAN opened at $12.37 on Friday. The company’s fifty day moving average price is $13.57 and its two-hundred day moving average price is $13.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $14.30. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the company posted $0.38 earnings per share. As a group, research analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 5.01%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In related news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently modified their holdings of HBAN. Vanguard Group Inc. lifted its position in shares of Huntington Bancshares by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after acquiring an additional 1,209,264 shares during the period. Boston Partners grew its stake in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after buying an additional 9,533,511 shares during the period. Norges Bank purchased a new stake in shares of Huntington Bancshares during the 4th quarter valued at $206,703,000. Dimensional Fund Advisors LP lifted its holdings in shares of Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Huntington Bancshares by 5.5% during the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock valued at $148,449,000 after acquiring an additional 744,443 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.