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

Huntington Bancshares (NASDAQ:HBAN - Free Report) had its price target decreased by JPMorgan Chase & Co. from $18.50 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the bank's stock.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 target price on shares of Huntington Bancshares in a report on Tuesday, January 21st. Truist Financial boosted their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Barclays increased their target price on Huntington Bancshares from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. Baird R W raised Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Piper Sandler reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.94.

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Huntington Bancshares Trading Up 0.6 %

Shares of Huntington Bancshares stock traded up $0.07 during trading hours on Thursday, hitting $12.78. The company's stock had a trading volume of 10,016,425 shares, compared to its average volume of 17,124,023. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a twelve month low of $11.92 and a twelve month high of $18.45. The firm has a fifty day moving average of $15.70 and a 200-day moving average of $16.13.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the company earned $0.27 EPS. Research analysts forecast that Huntington Bancshares will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend was Tuesday, March 18th. Huntington Bancshares's dividend payout ratio is presently 50.41%.

Insider Transactions at Huntington Bancshares

In other news, VP Scott D. Kleinman sold 69,088 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the completion of the sale, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. The trade was a 13.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 3,521 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares of the company's stock, valued at approximately $731,237.50. This trade represents a 6.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,781 shares of company stock valued at $1,631,151. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in shares of Huntington Bancshares by 28.3% during the third quarter. D.A. Davidson & CO. now owns 22,924 shares of the bank's stock worth $337,000 after acquiring an additional 5,058 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Huntington Bancshares by 11.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 129,285 shares of the bank's stock worth $1,900,000 after purchasing an additional 13,193 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Huntington Bancshares by 1,840.2% in the third quarter. Benjamin Edwards Inc. now owns 67,693 shares of the bank's stock valued at $995,000 after purchasing an additional 64,204 shares during the period. Hilltop Holdings Inc. raised its holdings in shares of Huntington Bancshares by 4.3% in the third quarter. Hilltop Holdings Inc. now owns 39,257 shares of the bank's stock valued at $577,000 after buying an additional 1,619 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its stake in shares of Huntington Bancshares by 48.0% during the third quarter. Investment Management Corp of Ontario now owns 48,110 shares of the bank's stock worth $707,000 after buying an additional 15,600 shares during the period. Institutional investors and hedge funds own 80.72% of the company's stock.

Huntington Bancshares Company Profile

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.