Huntington Bancshares (NASDAQ:HBAN) Price Target Raised to $18.50 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Huntington Bancshares from $18.00 to $18.50, indicating a potential upside of 18.59% from the current stock price.
• Other analysts have also raised their price targets, with Morgan Stanley increasing theirs from $19.00 to $23.00, reflecting a solid consensus of positive outlook for the bank's stock.
• Huntington Bancshares has a consensus rating of Moderate Buy with a target price of approximately $19.37, supported by both institutional investor interest and favorable financial performance.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $18.00 to $18.50 in a research note issued on Friday,MarketScreener reports. The firm currently has an "overweight" rating on the bank's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 18.59% from the stock's current price.

Several other analysts have also recently issued reports on HBAN. Morgan Stanley lifted their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Huntington Bancshares in a research report on Wednesday. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Wall Street Zen raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 target price (up from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $19.37.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.60 on Friday. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44. The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.79 and a beta of 0.96. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company's 50-day moving average price is $17.10 and its 200 day moving average price is $16.06.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $469.00 million for the quarter. Huntington Bancshares had a net margin of 17.36% and a return on equity of 11.81%. As a group, research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company's stock.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at $25,000. MTM Investment Management LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in Huntington Bancshares in the 1st quarter worth approximately $29,000. Quarry LP grew its holdings in Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock valued at $29,000 after purchasing an additional 814 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Huntington Bancshares in the 2nd quarter worth $30,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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