Huntington Bancshares (NASDAQ:HBAN) Stock Rating Lowered by StockNews.com

Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

HBAN has been the subject of several other research reports. Argus lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group decreased their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Bank of America lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Finally, Evercore ISI dropped their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Trading Down 1.3 %

Shares of HBAN stock opened at $14.78 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.06. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24. The stock’s 50-day moving average price is $13.98 and its 200-day moving average price is $13.60.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts predict that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the transaction, the insider now directly owns 65,899 shares in the company, valued at $987,167.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock valued at $1,762,904 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its holdings in Huntington Bancshares by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 225,470 shares of the bank’s stock worth $2,868,000 after purchasing an additional 1,465 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Huntington Bancshares by 27.3% during the 4th quarter. First Trust Direct Indexing L.P. now owns 26,161 shares of the bank’s stock valued at $333,000 after buying an additional 5,607 shares in the last quarter. Natixis Advisors L.P. grew its stake in Huntington Bancshares by 8.0% in the 4th quarter. Natixis Advisors L.P. now owns 541,550 shares of the bank’s stock valued at $6,888,000 after acquiring an additional 40,263 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Huntington Bancshares in the 4th quarter worth $1,485,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Huntington Bancshares by 125.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 67,978 shares of the bank’s stock worth $865,000 after acquiring an additional 37,828 shares during the period. 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.