Wolfe Research Lowers Huntington Bancshares (NASDAQ:HBAN) to Underperform

Wolfe Research downgraded shares of Huntington Bancshares (NASDAQ:HBANGet Rating) from a peer perform rating to an underperform rating in a research note issued to investors on Thursday, MarketBeat reports. Wolfe Research currently has $11.00 price objective on the bank’s stock, down from their previous price objective of $15.00.

A number of other equities research analysts have also recently commented on HBAN. Bank of America cut Huntington Bancshares from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research note on Friday, April 8th. Morgan Stanley dropped their target price on Huntington Bancshares from $18.00 to $17.00 and set an equal weight rating on the stock in a report on Monday, March 28th. Stephens upgraded Huntington Bancshares from an equal weight rating to an overweight rating and raised their target price for the company from $16.00 to $17.00 in a report on Monday, April 25th. Raymond James dropped their target price on Huntington Bancshares from $19.00 to $18.00 and set a strong-buy rating on the stock in a report on Friday, April 22nd. Finally, StockNews.com upgraded Huntington Bancshares from a sell rating to a hold rating in a report on Friday, April 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of Hold and an average target price of $16.71.

Shares of Huntington Bancshares stock opened at $13.93 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.80. Huntington Bancshares has a 52 week low of $12.56 and a 52 week high of $17.79. The stock has a 50 day moving average price of $13.85 and a two-hundred day moving average price of $15.04. The stock has a market capitalization of $20.05 billion, a PE ratio of 11.91 and a beta of 1.18.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The bank reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Huntington Bancshares had a return on equity of 12.19% and a net margin of 26.96%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. Research analysts forecast that Huntington Bancshares will post 1.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.62 dividend on an annualized basis and a yield of 4.45%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 52.99%.

In other Huntington Bancshares news, Director Richard H. King purchased 2,178 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $13.78 per share, for a total transaction of $30,012.84. Following the completion of the acquisition, the director now owns 75,492 shares of the company’s stock, valued at approximately $1,040,279.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott D. Kleinman sold 8,290 shares of Huntington Bancshares stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $15.50, for a total value of $128,495.00. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Huntington Bancshares by 1.5% in the first quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank’s stock worth $2,380,062,000 after buying an additional 2,353,575 shares during the last quarter. BlackRock Inc. increased its position in Huntington Bancshares by 6.0% in the first quarter. BlackRock Inc. now owns 136,897,261 shares of the bank’s stock worth $2,001,438,000 after buying an additional 7,774,643 shares during the last quarter. State Street Corp increased its position in Huntington Bancshares by 2.3% in the fourth quarter. State Street Corp now owns 79,581,973 shares of the bank’s stock worth $1,239,387,000 after buying an additional 1,802,869 shares during the last quarter. JPMorgan Chase & Co. increased its position in Huntington Bancshares by 16.2% in the fourth quarter. JPMorgan Chase & Co. now owns 39,623,451 shares of the bank’s stock worth $610,994,000 after buying an additional 5,513,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Huntington Bancshares by 4.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 39,384,881 shares of the bank’s stock worth $575,807,000 after buying an additional 1,736,566 shares during the last quarter. 79.26% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile (Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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