Huntington Bancshares (NASDAQ:HBAN) Downgraded to Hold at Baird R W

Baird R W cut shares of Huntington Bancshares (NASDAQ:HBAN) from a strong-buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

HBAN has been the topic of several other reports. Evercore ISI reduced their price objective on Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a research note on Monday, July 22nd. Argus raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a buy rating in a research note on Monday, July 22nd. Bank of America raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company a buy rating in a research note on Monday, July 22nd. Finally, Stephens restated an equal weight rating and issued a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $15.47.

Huntington Bancshares Trading Down 0.7 %

HBAN opened at $15.02 on Friday. The firm has a market cap of $21.77 billion, a P/E ratio of 13.53, a P/E/G ratio of 3.09 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.24. The business has a fifty day simple moving average of $13.47 and a 200-day simple moving average of $13.33.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period last year, the firm earned $0.35 earnings per share. On average, equities analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling

In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now owns 65,899 shares of the company’s stock, valued at $987,167.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kendall A. Kowalski sold 5,747 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the completion of the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. The disclosure for this sale can be found here. Insiders have sold a total of 130,900 shares of company stock valued at $1,932,719 over the last quarter. 0.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its position in shares of Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares during the 4th quarter valued at approximately $206,703,000. Dimensional Fund Advisors LP lifted its position in shares of Huntington Bancshares by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares during the period. Raymond James & Associates lifted its position in shares of Huntington Bancshares by 3.1% during the 1st quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock valued at $103,276,000 after acquiring an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Huntington Bancshares by 39.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.