StockNews.com Downgrades Huntington Bancshares (NASDAQ:HBAN) to Sell

Huntington Bancshares (NASDAQ:HBAN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other equities research analysts have also recently weighed in on HBAN. Argus upped their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods cut their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Morgan Stanley upped their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup increased their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.59.

Huntington Bancshares Trading Down 1.2 %

Shares of NASDAQ:HBAN opened at $13.25 on Tuesday. The company has a market capitalization of $19.20 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.94 and a beta of 1.06. Huntington Bancshares has a 1 year low of $9.25 and a 1 year high of $15.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The business’s 50 day simple moving average is $13.50 and its 200 day simple moving average is $13.40.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company earned $0.35 earnings per share. On average, research analysts anticipate that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares of the company’s stock, valued at $167,331.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,900 shares of company stock worth $1,862,176. Company insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Several large investors have recently made changes to their positions in the company. WealthShield Partners LLC grew its stake in shares of Huntington Bancshares by 5.9% in the 2nd quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock valued at $163,000 after buying an additional 683 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Huntington Bancshares by 3.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 23,647 shares of the bank’s stock valued at $312,000 after buying an additional 744 shares during the period. Summit Financial Strategies Inc. grew its stake in shares of Huntington Bancshares by 2.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 30,955 shares of the bank’s stock valued at $408,000 after buying an additional 762 shares during the period. State of Alaska Department of Revenue boosted its stake in Huntington Bancshares by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after purchasing an additional 780 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after purchasing an additional 794 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Bancshares

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.