ValuEngine Downgrades Huntington Bancshares (NASDAQ:HBAN) to Sell

Huntington Bancshares (NASDAQ:HBAN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. DA Davidson cut Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Friday, September 13th. They noted that the move was a valuation call. Nomura set a $14.00 price target on Huntington Bancshares and gave the company a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets cut Huntington Bancshares from a “market perform” rating to an “underperform” rating and set a $14.00 price target on the stock. in a research report on Monday, July 8th. Raymond James set a $14.00 price target on Huntington Bancshares and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, September 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Huntington Bancshares presently has an average rating of “Hold” and an average target price of $15.09.

Shares of NASDAQ HBAN opened at $14.43 on Monday. Huntington Bancshares has a one year low of $11.12 and a one year high of $14.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.90 and a quick ratio of 0.90. The business’s fifty day moving average price is $14.09 and its 200-day moving average price is $13.61. The stock has a market capitalization of $14.73 billion, a PE ratio of 12.03, a P/E/G ratio of 1.42 and a beta of 1.45.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts expect that Huntington Bancshares will post 1.31 EPS for the current fiscal year.

In related news, EVP Nancy E. Maloney sold 2,604 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.57, for a total transaction of $37,940.28. Following the sale, the executive vice president now owns 80,103 shares of the company’s stock, valued at approximately $1,167,100.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of HBAN. First Trust Advisors LP increased its stake in Huntington Bancshares by 18.2% in the 1st quarter. First Trust Advisors LP now owns 1,954,053 shares of the bank’s stock worth $24,777,000 after acquiring an additional 300,952 shares during the last quarter. Marshall Wace LLP bought a new position in Huntington Bancshares in the 1st quarter worth about $1,937,000. Advisory Services Network LLC increased its stake in Huntington Bancshares by 34.5% in the 1st quarter. Advisory Services Network LLC now owns 7,620 shares of the bank’s stock worth $97,000 after acquiring an additional 1,954 shares during the last quarter. Private Trust Co. NA increased its stake in 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 during the last quarter. Finally, Macnealy Hoover Investment Management Inc. increased its stake in 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 during the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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