Huntington Bancshares (NASDAQ:HBAN) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to an overweight rating in a research report released on Tuesday morning, MarketBeat reports. The firm currently has $18.00 target price on the bank’s stock, up from their previous target price of $16.00.

A number of other analysts also recently issued reports on HBAN. Royal Bank of Canada increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an outperform rating in a report on Tuesday, April 9th. UBS Group upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and increased their target price for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. Evercore ISI increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an outperform rating in a research report on Thursday, March 28th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a hold rating to a buy rating and increased their target price for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Bank of America upgraded shares of Huntington Bancshares from a neutral rating to a buy rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $15.30.

Huntington Bancshares Stock Up 1.4 %

NASDAQ:HBAN opened at $13.66 on Tuesday. The firm has a market capitalization of $19.80 billion, a P/E ratio of 12.31, a PEG ratio of 2.53 and a beta of 1.09. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $14.30. The company’s fifty day moving average price is $13.70 and its 200-day moving average price is $12.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid 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 4.54%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders sold 208,551 shares of company stock worth $2,834,671 over the last 90 days. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently bought and sold shares of the company. Comerica Bank acquired a new position in Huntington Bancshares in the 3rd quarter valued at $5,261,000. Vest Financial LLC boosted its position in shares of Huntington Bancshares by 16.5% during the 4th quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock worth $12,731,000 after purchasing an additional 141,410 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Huntington Bancshares by 43.4% during the 4th quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after purchasing an additional 1,371 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Huntington Bancshares by 199.6% during the 3rd quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after purchasing an additional 249,356 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock worth $56,117,000 after purchasing an additional 1,296,978 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

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.