JMP Securities Begins Coverage on Huntington Bancshares Incorporated (HBAN)
Equities researchers at JMP Securities assumed coverage on shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $15.00 price target on the bank’s stock. JMP Securities’ price target points to a potential upside of 18.39% from the stock’s current price.
HBAN has been the subject of a number of other reports. Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research note on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and issued a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a research note on Friday, July 21st. Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating and issued a $14.25 target price (up from $13.75) on shares of Huntington Bancshares in a research note on Friday, July 7th. Finally, BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Huntington Bancshares presently has an average rating of “Buy” and an average price target of $14.96.
Huntington Bancshares (NASDAQ HBAN) traded up 0.39% during midday trading on Thursday, hitting $12.72. 668,752 shares of the company traded hands. The stock has a market cap of $13.87 billion, a P/E ratio of 17.62 and a beta of 1.37. The stock has a 50 day moving average of $13.21 and a 200 day moving average of $13.27. Huntington Bancshares has a 12-month low of $9.52 and a 12-month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities research analysts predict that Huntington Bancshares will post $0.92 EPS for the current fiscal year.
Huntington Bancshares announced that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $308.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This report was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/08/31/huntington-bancshares-incorporated-hban-earns-market-perform-rating-from-analysts-at-jmp-securities.html.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the sale, the executive vice president now owns 447,722 shares in the company, valued at $5,690,546.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard W. Neu bought 2,450 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were bought at an average price of $13.10 per share, for a total transaction of $32,095.00. Following the acquisition, the director now directly owns 184,596 shares of the company’s stock, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Huntington Bancshares by 2.4% in the second quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after buying an additional 2,558,854 shares during the last quarter. FMR LLC raised its stake in Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock valued at $1,312,281,000 after buying an additional 17,263,771 shares during the last quarter. BlackRock Inc. raised its stake in Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock valued at $920,719,000 after buying an additional 66,453,890 shares during the last quarter. Capital International Investors raised its stake in Huntington Bancshares by 22.6% in the second quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock valued at $593,788,000 after buying an additional 8,101,400 shares during the last quarter. Finally, Boston Partners raised its stake in Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock valued at $458,191,000 after buying an additional 7,804,639 shares during the last quarter. Institutional investors and hedge funds own 74.16% of the company’s stock.
About Huntington Bancshares
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.
Receive News & Ratings for Huntington Bancshares Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.