Macquarie Lowers Huntington Bancshares (NASDAQ:HBAN) to Underperform

Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a note issued to investors on Friday, The Fly reports.

A number of other brokerages also recently weighed in on HBAN. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Argus cut Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. BMO Capital Markets reaffirmed a “hold” rating on shares of Snc-Lavalin Group in a research report on Monday. Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $16.00.

NASDAQ HBAN opened at $13.86 on Friday. Huntington Bancshares has a 1-year low of $11.12 and a 1-year high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market capitalization of $14.36 billion, a P/E ratio of 11.55, a PEG ratio of 1.16 and a beta of 1.38. The stock has a fifty day moving average of $13.40.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts anticipate that Huntington Bancshares will post 1.31 EPS for the current fiscal year.

In other news, CEO Stephen D. Steinour bought 18,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $13.33 per share, with a total value of $239,940.00. Following the completion of the transaction, the chief executive officer now directly owns 5,142,348 shares in the company, valued at $68,547,498.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Remiker sold 18,386 shares of Huntington Bancshares stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $14.02, for a total value of $257,771.72. Following the sale, the executive vice president now directly owns 357,085 shares in the company, valued at $5,006,331.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,158 shares of company stock worth $978,909. 1.22% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. boosted its holdings in shares of Huntington Bancshares by 8.5% in the 2nd quarter. Zions Bancorporation N.A. now owns 71,984 shares of the bank’s stock worth $995,000 after acquiring an additional 5,646 shares in the last quarter. Macnealy Hoover Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 3.9% in the 2nd quarter. Macnealy Hoover Investment Management Inc. now owns 165,759 shares of the bank’s stock worth $2,291,000 after acquiring an additional 6,280 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Huntington Bancshares by 100.7% in the 2nd quarter. Private Trust Co. NA now owns 42,998 shares of the bank’s stock worth $594,000 after acquiring an additional 21,573 shares in the last quarter. Horizon Investments LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter worth approximately $2,841,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Huntington Bancshares by 108.0% in the 1st quarter. Nordea Investment Management AB now owns 726,713 shares of the bank’s stock worth $9,216,000 after acquiring an additional 377,382 shares in the last quarter. 75.96% of the stock is currently owned by institutional investors.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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