Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its price target decreased by research analysts at JPMorgan Chase & Co. from $18.50 to $16.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.19% from the stock’s current price.

A number of other brokerages have also recently weighed in on HBAN. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Barclays increased their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Truist Financial upped their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Stephens reissued an “equal weight” rating and issued a $18.50 price target on shares of Huntington Bancshares in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.94.

Huntington Bancshares Price Performance

HBAN opened at $15.21 on Thursday. The company has a market capitalization of $22.22 billion, a P/E ratio of 12.37, a PEG ratio of 1.33 and a beta of 1.07. The company has a 50-day moving average of $15.95 and a 200-day moving average of $16.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a 1-year low of $12.05 and a 1-year high of $18.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company earned $0.27 earnings per share. Equities analysts expect that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the sale, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of Huntington Bancshares stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the transaction, the vice president now owns 47,950 shares in the company, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,781 shares of company stock worth $1,631,151 over the last three months. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Huntington Bancshares by 89.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 376,733 shares of the bank’s stock worth $6,129,000 after purchasing an additional 177,356 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in Huntington Bancshares by 7.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank’s stock worth $195,000 after buying an additional 856 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of Huntington Bancshares in the fourth quarter valued at $96,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at $12,500,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Huntington Bancshares by 80.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 22,961 shares of the bank’s stock worth $374,000 after acquiring an additional 10,202 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

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.