Huntington Bancshares (HBAN) Lowered to “Hold” at BidaskClub

Huntington Bancshares (NASDAQ:HBAN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other brokerages also recently issued reports on HBAN. Vining Sparks restated a “buy” rating and set a $19.00 price objective on shares of Huntington Bancshares in a research report on Monday, January 8th. Zacks Investment Research upgraded Huntington Bancshares from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, January 9th. Piper Jaffray Companies restated a “buy” rating and set a $17.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 9th. Morgan Stanley raised their price objective on Huntington Bancshares from $14.50 to $16.50 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $16.25 price objective on shares of Huntington Bancshares in a research report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Huntington Bancshares presently has an average rating of “Buy” and an average price target of $16.31.

Shares of Huntington Bancshares (NASDAQ:HBAN) traded up $0.30 on Friday, hitting $15.81. The stock had a trading volume of 8,499,705 shares, compared to its average volume of 7,755,567. Huntington Bancshares has a 52 week low of $12.14 and a 52 week high of $16.00. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $17,089.76, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business earned $0.11 earnings per share. research analysts predict that Huntington Bancshares will post 0.98 EPS for the current fiscal year.

In other news, insider Helga Houston sold 14,513 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total transaction of $199,844.01. Following the completion of the sale, the insider now owns 499,824 shares in the company, valued at $6,882,576.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total value of $603,655.08. Following the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Sun Life Financial INC increased its holdings in shares of Huntington Bancshares by 99,812.5% during the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock valued at $108,000 after acquiring an additional 7,985 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Huntington Bancshares during the second quarter valued at approximately $139,000. Alpha Cubed Investments LLC purchased a new position in shares of Huntington Bancshares during the third quarter valued at approximately $151,000. ClariVest Asset Management LLC boosted its position in shares of Huntington Bancshares by 53.4% during the third quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Huntington Bancshares by 171.7% during the second quarter. D.A. Davidson & CO. now owns 13,800 shares of the bank’s stock valued at $186,000 after buying an additional 8,720 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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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.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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