Research Analysts’ Recent Ratings Changes for Huntington Bancshares (HBAN)
A number of research firms have changed their ratings and price targets for Huntington Bancshares (NASDAQ: HBAN):
- 10/11/2016 – Huntington Bancshares was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating. They now have a $11.00 price target on the stock.
- 10/6/2016 – Huntington Bancshares is now covered by analysts at Wedbush. They set an “outperform” rating and a $12.00 price target on the stock.
- 10/4/2016 – Huntington Bancshares was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Huntington’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. The company remains well poised for organic growth driven by consistent growth in loan and deposit balances. Its robust liquidity position aids in undertaking acquisitions,. Notably, management expects the acquisition of FirstMerit Corp. which was completed in August to be accretive to Huntington’s earnings next year. Additionally, improvement in credit metrics should enhance its business performance. However, the low rate environment has taken a toll on the bank’s net interest margin (NIM) which will continue to remain under pressure if there is no rise in interest rates. Also, rising costs continue to hurt bottom-line growth. Moreover, the stringent regulations across the finance sector limit the company’s business opportunities.”
- 9/28/2016 – Huntington Bancshares was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $11.50 price target on the stock, up previously from $10.50.
- 9/21/2016 – Huntington Bancshares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Huntington’s profitability growth remains challenged by several issues including escalating costs. Further, the low rate environment has taken a toll on the bank’s net interest margin (NIM) which will continue to remain under pressure if there is no rise in interest rates. Additionally, the stringent regulations across the finance sector limit the company’s growth opportunities. However, the company continues to benefit from growing loans and deposits balances. Notably, the acquisition of FirstMerit Corp. is expected to be accretive to Huntington’s earnings per share next year.”
Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) opened at 9.97 on Thursday. The firm’s 50-day moving average price is $9.86 and its 200 day moving average price is $9.69. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 12.78 and a beta of 1.13. Huntington Bancshares Incorporated has a 52 week low of $7.83 and a 52 week high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same period in the previous year, the business posted $0.23 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post $0.82 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.81%. Huntington Bancshares’s payout ratio is 35.90%.
In other news, EVP David S. Anderson sold 9,006 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $9.82, for a total transaction of $88,438.92. Following the completion of the transaction, the executive vice president now owns 110,233 shares in the company, valued at $1,082,488.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas G. Stanutz sold 35,350 shares of Huntington Bancshares stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $9.64, for a total value of $340,774.00. Following the completion of the transaction, the executive vice president now owns 434,650 shares of the company’s stock, valued at approximately $4,190,026. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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