Huntington Bancshares (NASDAQ:HBAN) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Huntington Bancshares (NASDAQ:HBAN) had its price objective trimmed by JPMorgan Chase & Co. from $18.50 to $16.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

A number of other research firms have also recently commented on HBAN. Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. Morgan Stanley dropped their price target on Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods increased their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Baird R W upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. 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. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $17.94.

Huntington Bancshares Stock Down 11.5 %

HBAN opened at $13.46 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a one year low of $12.05 and a one year high of $18.45. The firm has a market capitalization of $19.66 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. The company has a fifty day moving average price of $15.88 and a 200-day moving average price of $16.14.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period last year, the company posted $0.27 EPS. Equities research analysts expect that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.61%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.41%.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total transaction of $1,013,520.96. Following the transaction, the vice president now owns 453,129 shares in the company, valued at approximately $6,647,402.43. This represents a 13.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,781 shares of company stock valued at $1,631,151. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in HBAN. Creative Capital Management Investments LLC grew its position in shares of Huntington Bancshares by 17,533.3% in the 4th quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock worth $26,000 after buying an additional 1,578 shares during the period. Y.D. More Investments Ltd grew its holdings in Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock worth $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $37,000. Transce3nd LLC purchased a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $48,000. Finally, Asset Dedication LLC boosted its position in shares of Huntington Bancshares by 70.0% in the 4th quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock worth $50,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

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.