JPMorgan Chase & Co. Cuts Huntington Bancshares (NASDAQ:HBAN) Price Target to $17.50

Huntington Bancshares (NASDAQ:HBAN) had its target price trimmed by JPMorgan Chase & Co. from $19.50 to $17.50 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Other research analysts also recently issued research reports about the stock. UBS Group increased their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research note on Tuesday, August 18th. DA Davidson lowered their price target on Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Finally, Jefferies Financial Group dropped their price target on Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.69.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $15.33 on Friday. Huntington Bancshares has a one year low of $14.82 and a one year high of $19.45. The business’s fifty day moving average is $16.74 and its 200 day moving average is $16.67. The stock has a market capitalization of $30.97 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. During the same quarter in the prior year, the business earned $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, sell-side analysts predict that Huntington Bancshares will post 1.54 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 17th were given a dividend of $0.1550 per share. This represents a $0.62 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, September 17th. Huntington Bancshares’s payout ratio is 48.06%.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall Kowalski sold 27,971 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total value of $481,101.20. Following the transaction, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in Huntington Bancshares by 24.5% during the fourth quarter. CIBC Asset Management Inc now owns 533,005 shares of the bank’s stock valued at $9,248,000 after purchasing an additional 104,965 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Huntington Bancshares in the second quarter worth $21,187,000. Equitable Holdings Inc. bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $1,093,000. Bank of America Corp DE bought a new stake in shares of Huntington Bancshares during the 2nd quarter valued at $256,772,000. Finally, Hsbc Holdings PLC lifted 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 in the last quarter. Institutional investors own 80.72% of the company’s stock.

Key Headlines Impacting Huntington Bancshares

Here are the key news stories impacting Huntington Bancshares this week:

• Positive Sentiment: Wells Fargo maintained its Buy rating on Huntington Bancshares, signaling continued confidence in the bank’s valuation and longer-term prospects. Wells Fargo Sticks to Their Buy Rating for Huntington Bancshares
• Positive Sentiment: Investors purchased 8,196 HBAN call options, about 167% above the average daily volume. The activity may reflect increased speculative interest or expectations for a rebound, although options activity alone does not guarantee a sustained advance.

About Huntington Bancshares

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.