Huntington Bancshares (NASDAQ:HBAN) Downgraded by StockNews.com

StockNews.com downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a research report sent to investors on Monday.

Other equities research analysts have also issued reports about the company. Morgan Stanley upped their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the company an overweight rating in a research note on Monday, August 5th. Bank of America upped their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company a buy rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $17.00 to $16.50 and set an overweight rating for the company in a report on Thursday, June 27th. Robert W. Baird lowered shares of Huntington Bancshares from an outperform rating to a neutral rating and set a $15.00 target price on the stock. in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $15.59.

Huntington Bancshares Stock Performance

HBAN opened at $14.73 on Monday. The stock’s 50 day simple moving average is $14.02 and its 200-day simple moving average is $13.61. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21.39 billion, a PE ratio of 13.27, a P/E/G ratio of 3.05 and a beta of 1.06. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. Sell-side analysts forecast that Huntington Bancshares will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.21%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,622 shares of company stock valued at $1,762,904. 0.89% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of the business. New York Life Investment Management LLC raised its holdings in Huntington Bancshares by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 225,470 shares of the bank’s stock worth $2,868,000 after buying an additional 1,465 shares during the period. First Trust Direct Indexing L.P. lifted its position in Huntington Bancshares by 27.3% in the 4th quarter. First Trust Direct Indexing L.P. now owns 26,161 shares of the bank’s stock valued at $333,000 after acquiring an additional 5,607 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Huntington Bancshares by 8.0% in the 4th quarter. Natixis Advisors L.P. now owns 541,550 shares of the bank’s stock worth $6,888,000 after purchasing an additional 40,263 shares during the period. Los Angeles Capital Management LLC bought a new position in Huntington Bancshares during the 4th quarter worth about $1,485,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Huntington Bancshares by 125.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 67,978 shares of the bank’s stock valued at $865,000 after purchasing an additional 37,828 shares during the period. Institutional investors and hedge funds 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.