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

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

HBAN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. TD Cowen raised their price objective on shares of Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Barclays lifted their price objective 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. Morgan Stanley decreased their price target on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned 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, the company currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Trading Up 1.3%

HBAN opened at $19.27 on Monday. The company has a fifty day moving average price of $17.72 and a two-hundred day moving average price of $16.95. Huntington Bancshares has a 1-year low of $11.91 and a 1-year high of $19.46. The company has a market cap of $30.35 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.78 and a beta of 0.96. 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 (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate 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 $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. Analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity

In related news, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This trade represents a 10.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $18.00, for a total transaction of $230,976.00. Following the sale, the executive vice president directly owned 239,473 shares in the company, valued at $4,310,514. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 103,693 shares of company stock valued at $1,693,220. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Huntington Bancshares during the second quarter valued at about $374,474,000. Vanguard Group Inc. grew its stake in Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after acquiring an additional 14,338,222 shares in the last quarter. Junto Capital Management LP bought a new stake in Huntington Bancshares during the 3rd quarter worth approximately $85,690,000. Victory Capital Management Inc. lifted its stake in Huntington Bancshares by 15.7% in the 3rd quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after purchasing an additional 4,640,302 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in Huntington Bancshares in the 4th quarter valued at $73,333,000. 80.72% of the stock is currently owned by hedge funds and other 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.