Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $17.00

Huntington Bancshares (NASDAQ:HBANFree Report) had its target price trimmed by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

HBAN has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $15.00 target price on shares of Huntington Bancshares in a report on Tuesday, June 11th. Bank of America raised Huntington Bancshares from a neutral rating to a buy rating and upped their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. StockNews.com raised Huntington Bancshares from a sell rating to a hold rating in a report on Tuesday, June 11th. UBS Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a report on Thursday, June 13th. Finally, Piper Sandler lowered Huntington Bancshares from a neutral rating to an underweight rating and decreased their price objective for the stock from $13.50 to $11.50 in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares presently has an average rating of Moderate Buy and an average target price of $15.13.

View Our Latest Stock Report on Huntington Bancshares

Huntington Bancshares Trading Up 1.4 %

Shares of NASDAQ HBAN opened at $12.39 on Friday. The stock’s 50 day moving average price is $13.57 and its two-hundred day moving average price is $13.09. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $14.30. The stock has a market capitalization of $17.96 billion, a P/E ratio of 11.16, a PEG ratio of 2.29 and a beta of 1.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, analysts anticipate that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 5.00%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Helga Houston sold 7,278 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 over the last ninety days. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of HBAN. Boston Partners lifted its holdings in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at $206,703,000. KBC Group NV lifted its holdings in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after purchasing an additional 3,729,974 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Huntington Bancshares by 832.7% in the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after purchasing an additional 2,979,768 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in shares of Huntington Bancshares in the first quarter valued at $35,428,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

(Get Free Report)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.

See Also

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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