Huntington Bancshares (NASDAQ:HBAN) Upgraded to Hold at StockNews.com

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

Several other analysts have also recently weighed in on HBAN. 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 report on Thursday, June 27th. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday. Barclays raised their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of Huntington Bancshares in a report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.91.

Huntington Bancshares Stock Down 0.5 %

Shares of HBAN opened at $15.36 on Friday. The stock has a market capitalization of $22.26 billion, a PE ratio of 13.84, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $16.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company’s 50-day simple moving average is $14.56 and its 200-day simple moving average is $13.93.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the prior year, the company earned $0.36 earnings per share. Analysts forecast that Huntington Bancshares will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares in the company, valued at $4,021,690.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was 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 in the company, valued at approximately $1,054,364.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 over the last ninety days. 0.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthShield Partners LLC boosted its position in shares of Huntington Bancshares by 5.9% during the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after buying an additional 683 shares during the period. UMB Bank n.a. increased its stake in Huntington Bancshares by 19.1% during the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after acquiring an additional 728 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after purchasing an additional 744 shares in the last quarter. Summit Financial Strategies Inc. boosted its holdings in shares of Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after purchasing an additional 762 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.