Huntington Bancshares (NASDAQ:HBAN) Upgraded to Hold by StockNews.com

Huntington Bancshares (NASDAQ:HBAN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently issued reports on HBAN. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Argus lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research note on Friday. Evercore ISI reduced their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.91.

Huntington Bancshares Stock Performance

Huntington Bancshares stock traded down $0.07 during trading hours on Friday, reaching $15.36. 19,315,781 shares of the stock were exchanged, compared to its average volume of 16,251,774. The stock has a market cap of $22.26 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $16.03. The firm’s 50 day moving average is $14.56 and its 200 day moving average is $13.93.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company earned $0.36 EPS. Analysts predict that Huntington Bancshares will post 1.18 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 11,288 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the sale, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock valued at $1,762,904 over the last 90 days. 0.89% of the stock is owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners raised its stake in shares of Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after purchasing an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Huntington Bancshares by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock worth $208,346,000 after acquiring an additional 561,565 shares during the period. Hsbc Holdings PLC raised its position in Huntington Bancshares by 9.5% in the second quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after acquiring an additional 566,015 shares during the period. Finally, National Bank of Canada FI raised its position in Huntington Bancshares by 832.7% in the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock worth $46,927,000 after acquiring an additional 2,979,768 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.