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

Huntington Bancshares (NASDAQ:HBAN) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $17.00 to $16.50 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 points to a potential upside of 29.62% from the company’s previous close.

A number of other analysts have also weighed in on HBAN. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Stephens reiterated an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. Morgan Stanley lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $16.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.03.

Huntington Bancshares Trading Up 0.2 %

HBAN stock traded up $0.02 during midday trading on Thursday, reaching $12.73. 2,889,245 shares of the company traded hands, compared to its average volume of 16,810,834. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 2.41 and a beta of 1.08. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $14.30. The business has a 50 day moving average of $13.43 and a 200-day moving average of $13.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business 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 quarter in the previous year, the business posted $0.38 earnings per share. As a group, sell-side analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kendall A. Kowalski sold 15,948 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now directly owns 21,102 shares of the company’s stock, valued at $284,243.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the business. Mariner LLC increased its holdings in Huntington Bancshares by 2.1% in the 3rd quarter. Mariner LLC now owns 127,271 shares of the bank’s stock valued at $1,324,000 after purchasing an additional 2,561 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Huntington Bancshares by 14.0% in the third quarter. Natixis Advisors L.P. now owns 501,287 shares of the bank’s stock valued at $5,213,000 after purchasing an additional 61,745 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Huntington Bancshares by 148.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 209,372 shares of the bank’s stock worth $2,177,000 after buying an additional 125,121 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Huntington Bancshares by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 649,972 shares of the bank’s stock worth $6,760,000 after buying an additional 2,500 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in Huntington Bancshares in the 3rd quarter valued at approximately $20,004,000. 80.72% of the stock is currently owned by hedge funds and other 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.