Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities researchers at Macquarie from an “outperform” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $16.50 price objective on the bank’s stock, up from their prior price objective of $16.04. Macquarie’s price objective would suggest a potential upside of 1.79% from the stock’s current price.
A number of other equities research analysts have also recently commented on HBAN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.25 price target on shares of Huntington Bancshares in a report on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and set a $15.50 price target on shares of Huntington Bancshares in a report on Tuesday, October 17th. BMO Capital Markets cut Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price target on the stock. in a report on Thursday, October 26th. Nomura raised their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, FBR & Co reissued a “hold” rating and set a $14.00 price target on shares of Huntington Bancshares in a report on Thursday, October 26th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.75.
Huntington Bancshares (HBAN) traded up $0.16 during trading hours on Wednesday, reaching $16.21. The company’s stock had a trading volume of 8,260,125 shares, compared to its average volume of 10,390,000. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $17,700.00, a PE ratio of 16.21, a PEG ratio of 1.22 and a beta of 1.33. Huntington Bancshares has a twelve month low of $12.14 and a twelve month high of $16.33.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a return on equity of 12.12% and a net margin of 25.02%. During the same period last year, the firm earned $0.18 earnings per share. research analysts forecast that Huntington Bancshares will post 1.2 EPS for the current year.
In related news, EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the completion of the transaction, the executive vice president now owns 427,270 shares in the company, valued at $5,930,507.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the transaction, the insider now owns 499,824 shares of the company’s stock, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Sun Life Financial INC grew its position in Huntington Bancshares by 99,812.5% in the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after acquiring an additional 7,985 shares in the last quarter. Verition Fund Management LLC purchased a new position in Huntington Bancshares in the second quarter worth about $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 period. 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 period. Institutional investors own 73.53% 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.