JPMorgan Chase & Co. Has Lowered Expectations for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its price objective cut by JPMorgan Chase & Co. from $21.00 to $19.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.53% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on HBAN. Raymond James Financial lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “strong-buy” rating in a research report on Friday, January 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Piper Sandler raised their price objective on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.13.

Huntington Bancshares Trading Down 0.3%

Shares of Huntington Bancshares stock opened at $15.90 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares has a 12-month low of $12.08 and a 12-month high of $19.45. The firm has a market capitalization of $32.38 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.64 and a beta of 0.95. The firm’s 50 day simple moving average is $16.72 and its two-hundred day simple moving average is $16.77.

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

Insiders Place Their Bets

In other Huntington Bancshares news, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the transaction, the vice president directly owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. The trade was a 11.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary Torgow acquired 14,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was acquired at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the transaction, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 27,700 shares of company stock worth $540,401 and sold 108,986 shares worth $1,785,958. Insiders own 0.67% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in shares of Huntington Bancshares by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after buying an additional 1,652,464 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Huntington Bancshares by 7.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 157,998 shares of the bank’s stock worth $2,741,000 after purchasing an additional 11,363 shares during the period. Fund Advisors of America Inc FL acquired a new position in Huntington Bancshares in the fourth quarter worth $222,000. World Investment Advisors lifted its stake in Huntington Bancshares by 8.8% in the fourth quarter. World Investment Advisors now owns 23,076 shares of the bank’s stock valued at $400,000 after buying an additional 1,870 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Huntington Bancshares by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 755,843 shares of the bank’s stock valued at $13,115,000 after buying an additional 43,618 shares during 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.