Huntington Bancshares (NASDAQ:HBAN) Cut to Strong Sell at Barclays

Barclays downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

HBAN has been the subject of several other research reports. Argus raised their price objective on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research note on Thursday, January 22nd. Wolfe Research reduced their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Royal Bank Of Canada reduced their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have given 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 $20.13.

Huntington Bancshares Stock Down 0.9%

HBAN stock opened at $16.82 on Monday. Huntington Bancshares has a one year low of $14.07 and a one year high of $19.45. The stock has a market capitalization of $34.26 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The company has a fifty day moving average of $16.34 and a 200-day moving average of $16.72.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business earned $0.34 EPS. As a group, analysts expect that Huntington Bancshares will post 1.61 EPS for the current year.

Insider Activity

In other Huntington Bancshares news, insider Prashant Nateri sold 10,171 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the transaction, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 17,455 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president owned 42,398 shares of the company’s stock, valued at $802,594.14. This trade represents a 29.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 27,700 shares of company stock worth $540,401 and sold 98,986 shares worth $1,600,958. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the business. MV Capital Management Inc. purchased a new position in Huntington Bancshares during the 4th quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the third quarter worth about $26,000. South Plains Financial Inc. grew its holdings in shares of Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after buying an additional 826 shares in the last quarter. Centennial Bank AR purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $28,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of Huntington Bancshares by 374.5% during the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after buying an additional 1,322 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.