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

Huntington Bancshares (NASDAQ:HBAN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other research analysts have also issued reports about the company. The Goldman Sachs Group increased their price objective on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday. Barclays upped their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $17.24.

Huntington Bancshares Stock Up 0.6 %

NASDAQ HBAN opened at $17.70 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a 52 week low of $11.68 and a 52 week high of $18.44. The business’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $14.68. The firm has a market cap of $25.71 billion, a PE ratio of 17.02, a P/E/G ratio of 3.52 and a beta of 1.06.

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

Insider Buying and Selling

In related news, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock worth $757,356 over the last 90 days. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. WealthShield Partners LLC lifted its position in Huntington Bancshares by 5.9% in the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after acquiring an additional 683 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after purchasing an additional 728 shares during the period. Foundations Investment Advisors LLC grew its stake in Huntington Bancshares by 3.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock worth $312,000 after buying an additional 744 shares during the last quarter. Summit Financial Strategies Inc. increased its position in Huntington Bancshares by 2.5% during the second quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock worth $408,000 after buying an additional 762 shares during the period. Finally, TCW Group Inc. lifted its stake in Huntington Bancshares by 4.1% in the second quarter. TCW Group Inc. now owns 20,235 shares of the bank’s stock valued at $267,000 after buying an additional 794 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.