Huntington Bancshares Inc. (HBAN) Downgraded by Jefferies Group to Hold
Jefferies Group cut shares of Huntington Bancshares Inc. (NASDAQ:HBAN) from a buy rating to a hold rating in a research report released on Monday morning. The brokerage currently has $14.00 target price on the stock, up from their prior target price of $12.00.
A number of other research firms have also recently issued reports on HBAN. Macquarie upgraded shares of Huntington Bancshares from a neutral rating to an outperform rating and raised their target price for the stock from $12.44 to $14.00 in a research note on Tuesday, November 22nd. FBR & Co cut shares of Huntington Bancshares from an outperform rating to a market perform rating and set a $11.00 price objective for the company. in a research note on Tuesday, October 11th. Zacks Investment Research upgraded shares of Huntington Bancshares from a hold rating to a buy rating and set a $12.00 price objective for the company in a research note on Wednesday, November 2nd. Deutsche Bank AG upgraded shares of Huntington Bancshares from a hold rating to a buy rating and lifted their price objective for the stock from $10.50 to $11.50 in a research note on Wednesday, September 28th. Finally, Wedbush initiated coverage on shares of Huntington Bancshares in a research note on Thursday, October 6th. They issued an outperform rating and a $12.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $11.41.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 12.26 on Monday. Huntington Bancshares has a 52 week low of $7.83 and a 52 week high of $12.68. The firm’s 50-day moving average is $10.90 and its 200 day moving average is $9.95. The company has a market capitalization of $13.30 billion, a PE ratio of 17.32 and a beta of 1.16.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Huntington Bancshares had a net margin of 18.87% and a return on equity of 10.97%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, analysts anticipate that Huntington Bancshares will post $0.73 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Tuesday, December 20th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 16th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.60%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 39.44%.
In other news, EVP David S. Anderson sold 10,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $10.60, for a total value of $106,116.60. Following the transaction, the executive vice president now owns 102,580 shares in the company, valued at approximately $1,087,348. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sandra E. Pierce sold 52,994 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $11.62, for a total transaction of $615,790.28. Following the completion of the transaction, the insider now owns 495,651 shares in the company, valued at approximately $5,759,464.62. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. MCF Advisors LLC increased its position in shares of Huntington Bancshares by 0.6% in the second quarter. MCF Advisors LLC now owns 15,028 shares of the company’s stock worth $134,000 after buying an additional 86 shares during the period. Rehmann Capital Advisory Group increased its position in Huntington Bancshares by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 22,785 shares of the company’s stock worth $204,000 after buying an additional 92 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Huntington Bancshares by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 30,477 shares of the company’s stock worth $272,000 after buying an additional 121 shares during the last quarter. Cetera Advisor Networks LLC increased its position in Huntington Bancshares by 0.8% in the third quarter. Cetera Advisor Networks LLC now owns 17,583 shares of the company’s stock worth $173,000 after buying an additional 136 shares during the last quarter. Finally, Concert Wealth Management Inc. increased its position in Huntington Bancshares by 1.1% in the third quarter. Concert Wealth Management Inc. now owns 14,766 shares of the company’s stock worth $145,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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