Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $16.50

Huntington Bancshares (NASDAQ:HBAN) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $17.00 to $16.50 in a research 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 indicate a potential upside of 25.19% from the company’s current price.

Several other research analysts have also recently weighed in on HBAN. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. UBS Group decreased their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, Evercore ISI decreased their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $15.03.

Huntington Bancshares Trading Up 3.1 %

Huntington Bancshares stock opened at $13.18 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The business’s fifty day simple moving average is $13.42 and its two-hundred day simple moving average is $13.14. 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 $19.10 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 2.40 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. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 in the company, valued at $5,241,562.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Brantley J. Standridge sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 15,711 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the completion of the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The disclosure for this sale can be found here. Insiders sold a total of 157,829 shares of company stock worth $2,148,623 over the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently made changes to their positions in the business. Comerica Bank bought a new position in shares of Huntington Bancshares in the third quarter worth about $5,261,000. Massmutual Trust Co. FSB ADV boosted its stake in Huntington Bancshares by 8.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after buying an additional 10,795 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Huntington Bancshares by 39.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after buying an additional 1,838,019 shares during the last quarter. Vest Financial LLC boosted its stake in 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. Finally, KBC Group NV boosted its stake in 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. 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.