Huntington Bancshares (NASDAQ:HBAN) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report released on Friday, MarketBeat reports. They presently have a $13.78 price objective on the bank’s stock. Macquarie’s target price points to a potential downside of 0.65% from the stock’s current price.
HBAN has been the topic of a number of other research reports. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Argus lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. BMO Capital Markets reissued a “hold” rating on shares of Snc-Lavalin Group in a research report on Monday, July 8th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.80.
HBAN stock opened at $13.87 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.92. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.18 and a beta of 1.38. The firm has a 50-day moving average of $13.42. Huntington Bancshares has a 1 year low of $11.12 and a 1 year high of $16.52.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. Huntington Bancshares’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. On average, equities analysts anticipate that Huntington Bancshares will post 1.31 earnings per share for the current fiscal year.
In related news, EVP Mark E. Thompson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $13.97, for a total transaction of $279,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen D. Steinour purchased 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the purchase, the chief executive officer now directly owns 5,142,348 shares in the company, valued at $68,547,498.84. The disclosure for this purchase can be found here. Insiders have sold a total of 72,158 shares of company stock worth $978,909 in the last three months. Corporate insiders own 1.22% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HBAN. BlackRock Inc. grew its stake in Huntington Bancshares by 17.5% during the 1st quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock worth $1,099,129,000 after buying an additional 12,896,475 shares during the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $105,381,000. JPMorgan Chase & Co. grew its stake in Huntington Bancshares by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after buying an additional 6,400,061 shares during the last quarter. Federated Investors Inc. PA grew its stake in Huntington Bancshares by 151.5% during the 1st quarter. Federated Investors Inc. PA now owns 6,281,173 shares of the bank’s stock worth $79,646,000 after buying an additional 3,784,133 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in Huntington Bancshares by 5,477.5% during the 4th quarter. APG Asset Management N.V. now owns 2,454,100 shares of the bank’s stock worth $25,590,000 after buying an additional 2,410,100 shares during the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.
About Huntington Bancshares
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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