StockNews.com Lowers Huntington Bancshares (NASDAQ:HBAN) to Sell

StockNews.com downgraded shares of Huntington Bancshares (NASDAQ:HBANGet Rating) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other research firms have also weighed in on HBAN. Barclays lowered shares of Huntington Bancshares from an equal weight rating to an underweight rating and set a $17.00 target price for the company. in a report on Monday, January 3rd. Raymond James decreased their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set a strong-buy rating for the company in a research note on Monday, January 24th. Bank of America downgraded shares of Huntington Bancshares from a buy rating to a neutral rating and set a $16.00 target price for the company. in a research note on Friday, April 8th. UBS Group started coverage on shares of Huntington Bancshares in a research report on Wednesday, January 12th. They set a buy rating and a $21.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a hold rating on shares of Huntington Bancshares in a research report on Friday, December 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of Hold and an average price target of $18.00.

Shares of NASDAQ HBAN opened at $13.44 on Wednesday. Huntington Bancshares has a twelve month low of $13.01 and a twelve month high of $17.79. The stock’s 50 day moving average price is $15.06 and its 200-day moving average price is $15.61. The company has a market capitalization of $19.42 billion, a PE ratio of 9.88, a PEG ratio of 0.46 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.41.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its earnings results on Friday, January 21st. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Huntington Bancshares had a net margin of 30.05% and a return on equity of 13.42%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the firm earned $0.27 EPS. As a group, research analysts expect that Huntington Bancshares will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Thursday, March 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 45.59%.

In other news, EVP Scott D. Kleinman sold 8,290 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $15.50, for a total value of $128,495.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Jana J. Litsey sold 6,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, January 18th. The stock was sold at an average price of $17.75, for a total transaction of $106,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,374 shares of company stock worth $289,397. 0.72% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its position in shares of Huntington Bancshares by 127.8% in the 2nd quarter. Morgan Stanley now owns 8,430,924 shares of the bank’s stock worth $120,310,000 after purchasing an additional 4,730,125 shares during the period. Bank of America Corp DE lifted its position in shares of Huntington Bancshares by 59.2% in the 2nd quarter. Bank of America Corp DE now owns 17,047,591 shares of the bank’s stock worth $243,269,000 after purchasing an additional 6,337,573 shares during the period. Jackson Square Capital LLC lifted its position in shares of Huntington Bancshares by 1.0% in the 3rd quarter. Jackson Square Capital LLC now owns 91,379 shares of the bank’s stock worth $1,413,000 after purchasing an additional 902 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Huntington Bancshares in the 3rd quarter worth approximately $157,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Huntington Bancshares by 3.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 825,297 shares of the bank’s stock worth $12,759,000 after purchasing an additional 26,036 shares during the period. 78.27% of the stock is owned by institutional investors.

Huntington Bancshares Company Profile (Get Rating)

Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.

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