Huntington Bancshares (HBAN) Downgraded to “Hold” at BidaskClub

BidaskClub lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a buy rating to a hold rating in a research report released on Thursday morning.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a buy rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Friday, September 8th. Nomura increased their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company a buy rating in a report on Thursday, October 26th. Piper Jaffray Companies reissued a buy rating and issued a $15.50 target price on shares of Huntington Bancshares in a research report on Tuesday, October 17th. Morgan Stanley upped their target price on Huntington Bancshares from $14.50 to $16.50 and gave the company an equal weight rating in a research report on Wednesday, December 13th. Finally, Barclays upped their target price on Huntington Bancshares from $14.00 to $17.00 and gave the company an equal weight rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $15.98.

Huntington Bancshares (NASDAQ:HBAN) traded up $0.13 on Thursday, hitting $14.85. The stock had a trading volume of 15,114,200 shares, compared to its average volume of 14,552,934. Huntington Bancshares has a fifty-two week low of $12.14 and a fifty-two week high of $14.93. The stock has a market cap of $16,120.00, a P/E ratio of 17.89, a P/E/G ratio of 1.52 and a beta of 1.33. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.11 EPS. analysts forecast that Huntington Bancshares will post 0.98 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were given a $0.11 dividend. The ex-dividend date was Friday, December 15th. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.96%. Huntington Bancshares’s dividend payout ratio is 38.55%.

In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total transaction of $603,655.08. Following the completion of the sale, the executive vice president now directly owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 14,513 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total value of $199,844.01. Following the sale, the insider now directly owns 499,824 shares of the company’s stock, valued at $6,882,576.48. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Huntington Bancshares by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after buying an additional 2,558,854 shares during the period. Capital International Investors lifted its holdings in shares of Huntington Bancshares by 13.2% in the 3rd quarter. Capital International Investors now owns 49,719,215 shares of the bank’s stock valued at $694,080,000 after buying an additional 5,800,000 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Huntington Bancshares by 20.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock valued at $167,172,000 after buying an additional 2,065,131 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Huntington Bancshares by 2.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,911,920 shares of the bank’s stock valued at $134,009,000 after buying an additional 279,415 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Huntington Bancshares by 10.8% in the 2nd quarter. Wells Fargo & Company MN now owns 7,422,603 shares of the bank’s stock valued at $100,354,000 after buying an additional 724,176 shares during the period. 73.53% of the stock is owned by institutional investors.

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Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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