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

Huntington Bancshares (NASDAQ:HBAN) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.98% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. National Bankshares set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 12th. Raymond James Financial increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. Barclays upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, Argus raised their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Stock Up 1.3%

Shares of NASDAQ HBAN opened at $19.27 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. The firm has a market cap of $30.35 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.78 and a beta of 0.96. The company’s 50-day simple moving average is $17.72 and its 200-day simple moving average is $16.95. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $19.46.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the prior year, the business posted $0.34 EPS. Equities analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Brantley J. Standridge sold 5,830 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $19.14, for a total value of $111,586.20. Following the completion of the sale, the vice president directly owned 327,676 shares in the company, valued at $6,271,718.64. This represents a 1.75% 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, insider Helga Houston sold 64,587 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the completion of the sale, the insider directly owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. The trade was a 10.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 103,693 shares of company stock worth $1,693,220. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC raised its stake in Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after buying an additional 1,366 shares during the last quarter. Woodline Partners LP grew its holdings in Huntington Bancshares by 40.8% during the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock worth $1,844,000 after acquiring an additional 35,574 shares during the period. Maryland State Retirement & Pension System raised its position in shares of Huntington Bancshares by 4.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 70,291 shares of the bank’s stock worth $1,178,000 after acquiring an additional 2,806 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Huntington Bancshares by 3.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 36,213 shares of the bank’s stock valued at $607,000 after purchasing an additional 1,307 shares during the period. Finally, US Bancorp DE boosted its position in shares of Huntington Bancshares by 3.4% during the 2nd quarter. US Bancorp DE now owns 351,486 shares of the bank’s stock valued at $5,891,000 after purchasing an additional 11,395 shares in the last quarter. Institutional investors and hedge funds 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.