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

Huntington Bancshares (NASDAQ:HBAN) had its target price upped by JPMorgan Chase & Co. from $18.50 to $19.50 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

HBAN has been the subject of several other research reports. The Goldman Sachs Group dropped their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada increased their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Evercore reissued an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Huntington Bancshares Trading Up 0.8%

NASDAQ HBAN traded up $0.14 during trading hours on Monday, hitting $18.02. 739,875 shares of the company’s stock were exchanged, compared to its average volume of 27,873,244. The firm has a market capitalization of $36.54 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. Huntington Bancshares has a 12-month low of $14.89 and a 12-month high of $19.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The business’s 50 day moving average is $16.62 and its 200-day moving average is $16.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.21. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s payout ratio is presently 47.69%.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business’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 transaction of $190,224.00. Following the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 company’s stock in a transaction 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 completion of the sale, the director owned 612,155 shares of the company’s stock, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 33,500 shares of company stock worth $617,542. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its position in Huntington Bancshares by 24.5% in the 4th quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock worth $9,248,000 after purchasing an additional 104,965 shares during the last quarter. Fieldview Capital Management LLC grew its position in Huntington Bancshares by 15.9% in the third quarter. Fieldview Capital Management LLC now owns 478,852 shares of the bank’s stock worth $8,270,000 after acquiring an additional 65,828 shares in the last quarter. KBC Group NV increased its stake in shares of Huntington Bancshares by 16.3% during the 4th quarter. KBC Group NV now owns 2,820,816 shares of the bank’s stock worth $48,941,000 after purchasing an additional 395,489 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Huntington Bancshares by 688.9% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 86,478 shares of the bank’s stock valued at $1,500,000 after purchasing an additional 75,516 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Huntington Bancshares by 25.4% in the 4th quarter. Hsbc Holdings PLC now owns 8,161,085 shares of the bank’s stock valued at $141,625,000 after purchasing an additional 1,652,464 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.