Huntington Bancshares (HBAN) Lowered to Sell at ValuEngine

ValuEngine lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a research note issued to investors on Monday.

HBAN has been the subject of a number of other reports. Zacks Investment Research lowered Huntington Bancshares from a buy rating to a hold rating in a research report on Tuesday, October 9th. BidaskClub raised Huntington Bancshares from a hold rating to a buy rating in a research report on Saturday, August 4th. Jefferies Financial Group increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a buy rating in a research report on Wednesday, August 8th. Finally, Vining Sparks reissued a buy rating and issued a $19.00 price target on shares of Huntington Bancshares in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Huntington Bancshares presently has a consensus rating of Hold and a consensus price target of $17.03.

Shares of NASDAQ:HBAN traded up $0.13 during trading on Monday, reaching $13.72. 1,492,371 shares of the stock were exchanged, compared to its average volume of 9,779,749. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. Huntington Bancshares has a 1-year low of $13.04 and a 1-year high of $16.60. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.76 and a beta of 1.35.



Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a return on equity of 12.93% and a net margin of 27.90%. Huntington Bancshares’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Equities research analysts anticipate that Huntington Bancshares will post 1.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be paid a $0.14 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.08%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 57.14%.

In other Huntington Bancshares news, CFO Howell D. Mccullough III sold 68,777 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $16.17, for a total value of $1,112,124.09. Following the completion of the transaction, the chief financial officer now owns 720,413 shares in the company, valued at approximately $11,649,078.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Remiker sold 5,254 shares of the company’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $15.55, for a total value of $81,699.70. Following the completion of the transaction, the executive vice president now owns 321,462 shares of the company’s stock, valued at approximately $4,998,734.10. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Boston Partners grew its stake in shares of Huntington Bancshares by 2.2% during the 2nd quarter. Boston Partners now owns 30,774,781 shares of the bank’s stock worth $454,236,000 after acquiring an additional 648,176 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Huntington Bancshares by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,392,637 shares of the bank’s stock worth $182,931,000 after acquiring an additional 363,049 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Huntington Bancshares by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,572,871 shares of the bank’s stock worth $126,536,000 after acquiring an additional 61,039 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Huntington Bancshares by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,394,784 shares of the bank’s stock worth $110,331,000 after acquiring an additional 408,719 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Huntington Bancshares by 0.9% during the 3rd quarter. First Trust Advisors LP now owns 4,793,005 shares of the bank’s stock worth $71,512,000 after acquiring an additional 41,657 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Huntington Bancshares Company Profile

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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