BidaskClub downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a buy rating to a hold rating in a research report report published on Wednesday morning.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Huntington Bancshares from a hold rating to a buy rating and set a $17.00 target price on the stock in a research note on Thursday, March 29th. UBS Group began coverage on Huntington Bancshares in a research report on Wednesday, March 21st. They set a buy rating and a $20.00 price target on the stock. Nomura lowered their price target on Huntington Bancshares from $18.00 to $17.00 and set a buy rating on the stock in a research report on Wednesday, April 25th. Susquehanna Bancshares set a $17.00 price target on Huntington Bancshares and gave the stock a hold rating in a research report on Tuesday, April 24th. Finally, ValuEngine downgraded Huntington Bancshares from a buy rating to a hold rating in a research report on Monday, April 2nd. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $16.98.
Shares of HBAN opened at $14.72 on Wednesday. Huntington Bancshares has a 52 week low of $12.14 and a 52 week high of $16.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $16.22 billion, a PE ratio of 15.02, a P/E/G ratio of 1.02 and a beta of 1.34.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Tuesday, April 24th. The bank reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. Huntington Bancshares had a return on equity of 12.64% and a net margin of 26.97%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. research analysts predict that Huntington Bancshares will post 1.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Monday, June 18th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.99%. Huntington Bancshares’s payout ratio is currently 44.90%.
In other Huntington Bancshares news, EVP Nancy E. Maloney sold 1,958 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $14.54, for a total transaction of $28,469.32. Following the completion of the transaction, the executive vice president now owns 79,646 shares of the company’s stock, valued at $1,158,052.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Porteous sold 62,000 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $15.06, for a total value of $933,720.00. The disclosure for this sale can be found here. Insiders have sold 117,387 shares of company stock valued at $1,774,808 in the last three months. Insiders own 1.05% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group raised its holdings in shares of Huntington Bancshares by 16.8% during the fourth quarter. Schroder Investment Management Group now owns 22,882 shares of the bank’s stock valued at $333,000 after acquiring an additional 3,298 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Huntington Bancshares by 3.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 110,880 shares of the bank’s stock valued at $1,672,000 after purchasing an additional 3,351 shares during the last quarter. Moors & Cabot Inc. increased its holdings in shares of Huntington Bancshares by 27.8% in the first quarter. Moors & Cabot Inc. now owns 17,725 shares of the bank’s stock valued at $268,000 after purchasing an additional 3,853 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Huntington Bancshares by 13.6% in the first quarter. ClariVest Asset Management LLC now owns 35,900 shares of the bank’s stock valued at $542,000 after purchasing an additional 4,300 shares during the last quarter. Finally, JNBA Financial Advisors acquired a new stake in shares of Huntington Bancshares in the first quarter valued at approximately $440,000. 74.50% of the stock is owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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