BMO Capital Markets Downgrades Huntington Bancshares (NASDAQ:HBAN) to Underperform

BMO Capital Markets downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a market perform rating to an underperform rating in a report issued on Monday morning, Benzinga reports. They currently have $14.00 price objective on the bank’s stock.

Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Argus lowered shares of Abercrombie & Fitch from a buy rating to a hold rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $16.00.

Shares of Huntington Bancshares stock traded up $0.14 on Monday, reaching $13.86. 6,019,548 shares of the stock were exchanged, compared to its average volume of 11,940,033. Huntington Bancshares has a 1-year low of $11.12 and a 1-year high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89. The stock’s fifty day simple moving average is $13.39. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.18 and a beta of 1.38.



Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Huntington Bancshares will post 1.31 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.67%.

In other Huntington Bancshares news, EVP Mark E. Thompson sold 20,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $13.97, for a total value of $279,400.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul G. Heller sold 33,772 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.08, for a total transaction of $441,737.76. Following the completion of the sale, the executive vice president now directly owns 458,479 shares in the company, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. Insiders sold 72,158 shares of company stock worth $978,909 in the last ninety days. Insiders own 1.22% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Huntington Bancshares by 17.5% in the first quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock valued at $1,099,129,000 after purchasing an additional 12,896,475 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Huntington Bancshares by 20.6% during the first quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock valued at $474,471,000 after buying an additional 6,400,061 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Huntington Bancshares by 1.5% during the first quarter. The Manufacturers Life Insurance Company now owns 15,059,755 shares of the bank’s stock valued at $190,959,000 after buying an additional 221,076 shares during the period. Geode Capital Management LLC lifted its stake in shares of Huntington Bancshares by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock valued at $172,863,000 after buying an additional 709,854 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Huntington Bancshares by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock valued at $168,284,000 after buying an additional 1,714,381 shares during the period. 75.96% of the stock is currently owned by institutional investors.

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

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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