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

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

Several other research analysts have also recently weighed in on the stock. StockNews.com raised shares of Huntington Bancshares from a sell rating to a hold rating in a report on Tuesday, June 11th. UBS Group lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a buy rating on the stock in a report on Thursday, June 13th. DA Davidson raised shares of Huntington Bancshares from a neutral rating to a buy rating and raised their target price for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $15.13.

Huntington Bancshares Stock Up 1.4 %

Huntington Bancshares stock opened at $12.39 on Friday. The stock has a market cap of $17.96 billion, a P/E ratio of 11.16, a P/E/G ratio of 2.29 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $14.30. The company’s 50-day moving average price is $13.57 and its two-hundred day moving average price is $13.09.

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

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.00%. 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 Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction 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 directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction on Thursday, May 30th. The shares were 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 of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,829 shares of company stock worth $2,148,623. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank bought a new stake in Huntington Bancshares in the third quarter valued at $5,261,000. Vest Financial LLC grew its holdings in shares of Huntington Bancshares by 16.5% during the fourth quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after buying an additional 141,410 shares during the last quarter. KBC Group NV grew its holdings in shares of Huntington Bancshares by 715.0% during the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after buying an additional 3,729,974 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Huntington Bancshares by 160.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 206,193 shares of the bank’s stock valued at $2,623,000 after buying an additional 126,900 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Huntington Bancshares by 43.4% during the fourth quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock valued at $58,000 after buying an additional 1,371 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

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.