Huntington Bancshares (NASDAQ:HBAN) PT Lowered to $16.50 at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its target price cut by JPMorgan Chase & Co. from $17.00 to $16.50 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

HBAN has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $16.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Piper Sandler downgraded shares of Huntington Bancshares from a neutral rating to an underweight rating and decreased their price target for the company from $13.50 to $11.50 in a research note on Friday, June 14th. Bank of America raised shares of Huntington Bancshares from a neutral rating to a buy rating and upped their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Morgan Stanley cut their price objective 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. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $15.03.

Huntington Bancshares Price Performance

HBAN stock opened at $13.18 on Thursday. Huntington Bancshares has a one year low of $9.25 and a one year high of $14.30. The company’s fifty day moving average price is $13.42 and its 200-day moving average price is $13.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $19.10 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08.

Huntington Bancshares (NASDAQ:HBAN) last released its 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. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid 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 4.70%. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Abich Financial Wealth Management LLC raised its holdings in Huntington Bancshares by 43.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 7,912 shares of the bank’s stock valued at $110,000 after buying an additional 2,383 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Huntington Bancshares by 3.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 586,246 shares of the bank’s stock valued at $8,049,000 after buying an additional 20,540 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at about $569,000. Boston Partners raised its holdings in Huntington Bancshares by 20.4% in 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. Finally, Cetera Advisors LLC raised its holdings in Huntington Bancshares by 224.2% in the 1st quarter. Cetera Advisors LLC now owns 158,821 shares of the bank’s stock valued at $2,216,000 after buying an additional 109,838 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.