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

StockNews.com lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a research note released on Wednesday.

A number of other brokerages have also recently issued reports on HBAN. DA Davidson lifted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler lifted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Barclays upped their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.24.

Huntington Bancshares Stock Down 0.2 %

Shares of HBAN stock opened at $17.60 on Wednesday. Huntington Bancshares has a 1 year low of $11.57 and a 1 year high of $18.44. The stock has a market cap of $25.57 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.55 and a beta of 1.06. The business’s fifty day moving average is $16.18 and its 200-day moving average is $14.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period in the previous year, the firm posted $0.36 EPS. Equities analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.52%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 over the last 90 days. 0.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Large investors have recently made changes to their positions in the stock. Heritage Wealth Management Inc. bought a new stake in shares of Huntington Bancshares during the 2nd quarter worth about $744,000. Petiole USA ltd acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth about $3,454,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Huntington Bancshares by 5.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Huntington Bancshares by 40.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after purchasing an additional 55,865 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after purchasing an additional 968,331 shares during the last quarter. 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.