JPMorgan Chase & Co. Issues Positive Forecast for Huntington Bancshares (NASDAQ:HBAN) Stock Price

Huntington Bancshares (NASDAQ:HBAN) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $17.50 to $18.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.07% from the company’s previous close.

Several other brokerages have also recently commented on HBAN. Wells Fargo & Company decreased their target price on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, October 23rd. Citigroup decreased their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Monday. DA Davidson lowered their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, September 21st. Zacks Research downgraded Huntington Bancshares from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Stephens lowered their target price on shares of Huntington Bancshares from $19.00 to $18.00 in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $18.98.

Huntington Bancshares Stock Performance

HBAN traded down $0.19 during trading on Friday, reaching $15.78. The company’s stock had a trading volume of 19,221,646 shares, compared to its average volume of 27,104,369. The company’s fifty day moving average price is $15.98 and its 200-day moving average price is $16.71. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95. Huntington Bancshares has a 52-week low of $14.82 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.91.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, equities analysts forecast that Huntington Bancshares will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, Director James D. Rollins III bought 14,000 shares of the business’s stock in a transaction on Monday, October 26th. The stock was bought at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the transaction, the director directly owned 15,500 shares in the company, valued at $280,860. This represents a 933.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Torgow purchased 12,700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was bought at an average cost of $15.73 per share, for a total transaction of $199,771.00. Following the purchase, the director owned 956,041 shares in the company, valued at $15,038,524.93. This represents a 1.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $3,134,426,000. Dimensional Fund Advisors LP grew its stake in Huntington Bancshares by 27.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after purchasing an additional 5,026,894 shares during the period. Amundi raised its position in shares of Huntington Bancshares by 30.7% in the first quarter. Amundi now owns 19,502,547 shares of the bank’s stock valued at $305,215,000 after purchasing an additional 4,578,566 shares during the period. Bank of America Corp DE bought a new stake in Huntington Bancshares during the 2nd quarter worth approximately $256,772,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth $229,246,000. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.