Huntington Bancshares (NASDAQ:HBAN) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.
A number of other equities analysts have also weighed in on the company. BMO Capital Markets lowered Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research note on Monday, July 8th. Macquarie lowered Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 target price on the stock. in a research note on Friday, July 12th. Nomura set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a research note on Friday, July 26th. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, DA Davidson lowered Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, September 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.09.
Shares of NASDAQ HBAN traded up $0.16 during trading hours on Monday, reaching $14.35. 5,750,489 shares of the stock were exchanged, compared to its average volume of 10,621,713. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.42 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 0.90. Huntington Bancshares has a 52 week low of $11.12 and a 52 week high of $14.97. The stock’s fifty day simple moving average is $14.06 and its 200 day simple moving average is $13.60.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. Research analysts predict that Huntington Bancshares will post 1.31 EPS for the current fiscal year.
In related news, EVP Nancy E. Maloney sold 2,604 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.57, for a total transaction of $37,940.28. Following the sale, the executive vice president now owns 80,103 shares of the company’s stock, valued at $1,167,100.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.22% of the company’s stock.
A number of large investors have recently modified their holdings of HBAN. Nuveen Asset Management LLC grew its position in Huntington Bancshares by 6,315.5% during the second quarter. Nuveen Asset Management LLC now owns 5,523,273 shares of the bank’s stock worth $76,331,000 after buying an additional 5,437,181 shares in the last quarter. Invesco Ltd. grew its position in Huntington Bancshares by 34.3% during the second quarter. Invesco Ltd. now owns 13,409,707 shares of the bank’s stock worth $185,323,000 after buying an additional 3,427,585 shares in the last quarter. Royal Bank of Canada grew its position in Huntington Bancshares by 39.6% during the second quarter. Royal Bank of Canada now owns 8,735,469 shares of the bank’s stock worth $120,723,000 after buying an additional 2,476,376 shares in the last quarter. Randolph Co Inc acquired a new stake in Huntington Bancshares during the second quarter worth approximately $12,613,000. Finally, Boston Partners grew its position in Huntington Bancshares by 3.2% during the second quarter. Boston Partners now owns 28,056,162 shares of the bank’s stock worth $387,719,000 after buying an additional 878,068 shares in the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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