Huntington Bancshares (NASDAQ:HBAN) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan cut Huntington Bancshares’ price target from $19.50 to $17.50 while maintaining an “overweight” rating, implying roughly 14.5% upside from the prior close.
• Other analysts have also reduced their targets, but overall sentiment remains positive: MarketBeat reports a “Moderate Buy” consensus rating and an average target price of $19.69.
• HBAN shares rose 0.6% to $15.29, near their one-year low of $14.82. The bank recently met earnings expectations with quarterly EPS of $0.39 and revenue of $2.86 billion.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price target cut by analysts at JPMorgan Chase & Co. from $19.50 to $17.50 in a report issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 14.49% from the stock's previous close.

HBAN has been the topic of several other reports. Truist Financial dropped their price objective on shares of Huntington Bancshares from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Wells Fargo & Company lowered their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, September 16th. Evercore cut their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, September 18th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $19.00 target price (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. Finally, Weiss Ratings raised Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of "Moderate Buy" and a consensus target price of $19.69.

Huntington Bancshares Stock Up 0.6%

Huntington Bancshares stock traded up $0.10 during midday trading on Friday, reaching $15.29. The stock had a trading volume of 8,850,703 shares, compared to its average volume of 27,374,135. The stock has a market capitalization of $30.88 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. The firm's fifty day simple moving average is $16.78 and its 200-day simple moving average is $16.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares has a 1-year low of $14.82 and a 1-year high of $19.45.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.39. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. As a group, analysts expect that Huntington Bancshares will post 1.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kendall Kowalski sold 27,971 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This represents a 28.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in HBAN. BlackRock Inc. acquired a new position in Huntington Bancshares during the second quarter worth about $3,134,426,000. Victory Capital Management Inc. lifted its stake in shares of Huntington Bancshares by 9.3% in the 4th quarter. Victory Capital Management Inc. now owns 37,412,989 shares of the bank's stock valued at $649,115,000 after acquiring an additional 3,182,001 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Huntington Bancshares by 27.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank's stock valued at $367,388,000 after acquiring an additional 5,026,894 shares in the last quarter. Amundi grew its position in Huntington Bancshares by 30.7% during the 1st quarter. Amundi now owns 19,502,547 shares of the bank's stock worth $305,215,000 after acquiring an additional 4,578,566 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Huntington Bancshares in the 2nd quarter worth about $256,772,000. 80.72% of the stock is currently 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 consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.

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