JPMorgan Chase & Co. Raises Huntington Bancshares (NASDAQ:HBAN) Price Target to $21.00

Huntington Bancshares (NASDAQ:HBAN) had its price objective raised by JPMorgan Chase & Co. from $20.00 to $21.00 in a research note issued on Monday, Marketbeat reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.09% from the company’s current price.

HBAN has been the topic of a number of other research reports. DA Davidson reiterated a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods lowered their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group lifted their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Argus boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Truist Financial upped their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Huntington Bancshares Trading Down 2.3%

Shares of NASDAQ:HBAN opened at $18.57 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $19.45. The stock has a market cap of $29.24 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.77 and a beta of 0.96. The business has a 50-day moving average price of $17.81 and a 200-day moving average price of $16.98.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Equities analysts predict that Huntington Bancshares will post 1.39 EPS for the current year.

Insider Buying and Selling

In other news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider directly owned 155,634 shares in the company, valued at $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brantley J. Standridge sold 5,830 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $19.14, for a total value of $111,586.20. Following the transaction, the vice president owned 327,676 shares in the company, valued at $6,271,718.64. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 103,693 shares of company stock valued at $1,693,220 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc lifted its stake in Huntington Bancshares by 6.2% in the 4th quarter. TD Asset Management Inc now owns 599,326 shares of the bank’s stock valued at $10,398,000 after buying an additional 35,020 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Huntington Bancshares by 7.2% during the fourth quarter. Lido Advisors LLC now owns 51,202 shares of the bank’s stock valued at $892,000 after acquiring an additional 3,457 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Huntington Bancshares by 24.5% in the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after acquiring an additional 104,965 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Huntington Bancshares by 26.8% in the fourth quarter. Bank of New York Mellon Corp now owns 11,190,968 shares of the bank’s stock valued at $194,163,000 after acquiring an additional 2,363,645 shares in the last quarter. Finally, Dynasty Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 28.2% in the fourth quarter. Dynasty Wealth Management LLC now owns 174,612 shares of the bank’s stock worth $3,030,000 after acquiring an additional 38,367 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.