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

StockNews.com downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a report published on Wednesday morning.

HBAN has been the topic of several other research reports. Morgan Stanley dropped their price target on shares of Huntington Bancshares from $16.00 to $15.00 and set an overweight rating on the stock in a research report on Wednesday, June 12th. Evercore ISI lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an outperform rating in a report on Thursday, March 28th. DA Davidson raised shares of Huntington Bancshares from a neutral rating to a buy rating and lifted their price target for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a hold rating to a buy rating and lifted their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $15.13.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $12.46 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50-day moving average of $13.48 and a 200-day moving average of $13.10. The company has a market cap of $18.06 billion, a PE ratio of 11.23, a P/E/G ratio of 2.30 and a beta of 1.08. Huntington Bancshares has a one year low of $9.25 and a one year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the business posted $0.38 EPS. On average, equities research analysts predict that Huntington Bancshares will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kendall A. Kowalski sold 15,948 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total transaction of $214,819.56. Following the transaction, the insider now owns 21,102 shares in the company, valued at $284,243.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock valued at $2,148,623 over the last three months. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. purchased a new stake in Huntington Bancshares in the fourth quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares during the first quarter valued at approximately $29,000. Nemes Rush Group LLC lifted its position in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,391 shares during the period. YHB Investment Advisors Inc. bought a new position in Huntington Bancshares during the first quarter valued at approximately $30,000. Finally, Planned Solutions Inc. bought a new position in Huntington Bancshares during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.