Huntington Bancshares (NASDAQ:HBAN) Upgraded by Wall Street Zen to “Hold” Rating

Huntington Bancshares (NASDAQ:HBAN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the stock. Cowen reiterated a “buy” rating on shares of Huntington Bancshares in a report on Monday, October 20th. Truist Financial increased their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI assumed coverage on Huntington Bancshares in a report on Tuesday, October 21st. They issued an “outperform” rating and a $18.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Finally, TD Cowen increased their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.82.

Huntington Bancshares Stock Up 0.8%

Shares of NASDAQ:HBAN opened at $15.44 on Friday. The company has a fifty day moving average of $16.88 and a 200-day moving average of $16.28. The company has a market capitalization of $22.52 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.66 and a beta of 0.96. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. Huntington Bancshares has a 52-week low of $11.91 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly 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 during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. On average, equities analysts predict that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the 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 completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at approximately $5,388,498. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Huntington Bancshares by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 176,300,218 shares of the bank’s stock worth $2,954,792,000 after purchasing an additional 2,343,244 shares in the last quarter. Boston Partners boosted its position in shares of Huntington Bancshares by 4.8% during the 2nd quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock worth $1,020,382,000 after purchasing an additional 2,776,429 shares in the last quarter. Invesco Ltd. boosted its position in shares of Huntington Bancshares by 1.8% during the 2nd quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock worth $975,460,000 after purchasing an additional 1,015,066 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Huntington Bancshares by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock worth $658,541,000 after purchasing an additional 640,852 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Huntington Bancshares by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 28,384,949 shares of the bank’s stock worth $475,558,000 after purchasing an additional 397,141 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.