Huntington Bancshares (NASDAQ:HBAN) Rating Lowered to Sell at ValuEngine

Huntington Bancshares (NASDAQ:HBAN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday, ValuEngine reports.

HBAN has been the subject of a number of other reports. Raymond James set a $14.00 price objective on Huntington Bancshares and gave the stock a “buy” rating in a research note on Thursday, August 29th. Nomura set a $14.00 target price on Huntington Bancshares and gave the company a “hold” rating in a research note on Friday, July 26th. BMO Capital Markets cut Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 target price for the company. in a research note on Monday, July 8th. Macquarie cut Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 target price for the company. in a research note on Friday, July 12th. Finally, DA Davidson cut Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, September 13th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.09.

Shares of Huntington Bancshares stock traded up $0.16 during trading on Monday, reaching $14.35. 5,750,489 shares of the company were exchanged, compared to its average volume of 10,621,713. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a twelve month low of $11.12 and a twelve month high of $14.97. The business has a 50-day moving average price of $14.06 and a 200-day moving average price of $13.60. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.42 and a beta of 1.45.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Huntington Bancshares will post 1.31 EPS for the current fiscal year.

In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the transaction, the executive vice president now directly owns 80,103 shares of the company’s stock, valued at $1,167,100.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of HBAN. Vanguard Group Inc. boosted its position in shares of Huntington Bancshares by 0.7% during the second quarter. Vanguard Group Inc. now owns 119,979,155 shares of the bank’s stock worth $1,658,111,000 after buying an additional 877,364 shares during the period. Boston Partners boosted its position in shares of Huntington Bancshares by 3.2% during the second quarter. Boston Partners now owns 28,056,162 shares of the bank’s stock worth $387,719,000 after buying an additional 878,068 shares during the period. Invesco Ltd. boosted its position in shares of Huntington Bancshares by 34.3% during the second quarter. Invesco Ltd. now owns 13,409,707 shares of the bank’s stock worth $185,323,000 after buying an additional 3,427,585 shares during the period. Northern Trust Corp boosted its position in shares of Huntington Bancshares by 2.8% during the second quarter. Northern Trust Corp now owns 11,482,146 shares of the bank’s stock worth $158,684,000 after buying an additional 310,381 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Huntington Bancshares by 39.6% during the second quarter. Royal Bank of Canada now owns 8,735,469 shares of the bank’s stock worth $120,723,000 after buying an additional 2,476,376 shares during the period. 75.13% of the stock is owned by hedge funds and other 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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