Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $19.50 at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $18.50 to $19.50 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.18% from the stock’s current price.

A number of other equities analysts have also recently issued reports on HBAN. Piper Sandler upgraded shares of Huntington Bancshares from a “strong sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Thursday, April 23rd. Stephens started coverage on shares of Huntington Bancshares in a research note on Monday, June 15th. They set an “equal weight” rating and a $19.00 target price on the stock. DA Davidson dropped their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Morgan Stanley lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Evercore restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued 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 target price of $20.15.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $17.86 on Monday. The stock has a market cap of $36.20 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares has a 1 year low of $14.89 and a 1 year high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $16.90.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same period last year, the firm earned $0.34 EPS. On average, research analysts predict that Huntington Bancshares will post 1.62 earnings per share for the current fiscal year.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 33,500 shares of company stock worth $617,542. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HBAN. CX Institutional grew its holdings in shares of Huntington Bancshares by 34.5% during the second quarter. CX Institutional now owns 39,648 shares of the bank’s stock valued at $703,000 after buying an additional 10,178 shares during the last quarter. First County Bank CT raised its holdings in shares of Huntington Bancshares by 2.4% in the 2nd quarter. First County Bank CT now owns 40,376 shares of the bank’s stock worth $716,000 after acquiring an additional 946 shares during the last quarter. Basecamp Wealth Advisors LLC raised its holdings in shares of Huntington Bancshares by 57.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 5,333 shares of the bank’s stock worth $83,000 after acquiring an additional 1,953 shares during the last quarter. Ballast Advisors LLC bought a new position in Huntington Bancshares in the 1st quarter valued at about $71,000. Finally, Curry Webb Wealth Management LLC acquired a new position in Huntington Bancshares during the 1st quarter valued at about $3,204,000. 80.72% of the stock is owned by institutional investors.

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.