Huntington Bancshares’ (HBAN) “Overweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Huntington Bancshares (NASDAQ:HBAN) in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have a $20.00 price target on the bank’s stock, up from their prior price target of $18.50.

A number of other equities analysts have also recently commented on the company. Citigroup lifted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.24.

Huntington Bancshares Stock Down 0.5 %

NASDAQ HBAN opened at $17.61 on Wednesday. The stock has a 50 day moving average price of $16.36 and a 200-day moving average price of $14.73. Huntington Bancshares has a one year low of $11.68 and a one year high of $18.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market capitalization of $25.58 billion, a P/E ratio of 16.93, a P/E/G ratio of 3.52 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities analysts predict that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insiders Place Their Bets

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,699 shares of company stock worth $757,356 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently made changes to their positions in the stock. Asset Dedication LLC grew its stake in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new stake in Huntington Bancshares in the third quarter valued at approximately $29,000. Hazlett Burt & Watson Inc. increased its holdings in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after buying an additional 2,003 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the 3rd quarter worth approximately $31,000. Finally, Fortitude Family Office LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at approximately $32,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

About Huntington Bancshares

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.