Huntington Bancshares Incorporated (HBAN) Raised to Buy at Hilliard Lyons
Huntington Bancshares Incorporated (NASDAQ:HBAN) was upgraded by Hilliard Lyons from a “neutral” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports.
Several other analysts also recently weighed in on HBAN. Jefferies Group LLC upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 3rd. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the company a “hold” rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Tuesday, April 11th. FBR & Co restated a “mkt perform” rating and set a $14.00 price target (down previously from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $14.00 price target (down previously from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Huntington Bancshares has a consensus rating of “Buy” and an average price target of $14.82.
Shares of Huntington Bancshares (NASDAQ HBAN) traded up 2.197% during midday trading on Monday, reaching $13.255. 7,351,096 shares of the company’s stock traded hands. Huntington Bancshares has a one year low of $9.10 and a one year high of $14.74. The stock’s 50-day moving average price is $13.30 and its 200 day moving average price is $13.34. The firm has a market capitalization of $14.45 billion, a PE ratio of 18.359 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period last year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Huntington Bancshares will post $0.92 earnings per share for the current fiscal year.
Huntington Bancshares announced that its board has initiated a share buyback plan on Wednesday, June 28th that permits the company to buyback $308.00 million in shares. This buyback authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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In other Huntington Bancshares news, EVP Andrew J. Harmening purchased 15,490 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the completion of the purchase, the executive vice president now owns 35,543 shares in the company, valued at approximately $459,215.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen D. Steinour purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average price of $12.40 per share, for a total transaction of $620,000.00. Following the purchase, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Catawba Capital Management VA purchased a new stake in shares of Huntington Bancshares during the first quarter valued at about $293,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Huntington Bancshares by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 938,891 shares of the bank’s stock valued at $12,572,000 after buying an additional 12,355 shares during the last quarter. First Financial Bank N.A. Trust Division boosted its stake in shares of Huntington Bancshares by 2.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 27,695 shares of the bank’s stock valued at $370,000 after buying an additional 638 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Huntington Bancshares by 285.6% in the fourth quarter. Macquarie Group Ltd. now owns 910,577 shares of the bank’s stock valued at $12,038,000 after buying an additional 674,424 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in shares of Huntington Bancshares by 69.1% in the fourth quarter. Highbridge Capital Management LLC now owns 613,721 shares of the bank’s stock valued at $8,113,000 after buying an additional 250,887 shares during the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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