Huntington Bancshares (HBAN) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Huntington Bancshares (NASDAQ:HBAN) from a buy rating to a hold rating in a report published on Friday.

Other research analysts also recently issued research reports about the company. Piper Jaffray Companies restated a buy rating and issued a $17.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 9th. Vining Sparks restated a buy rating and issued a $19.00 target price on shares of Huntington Bancshares in a research note on Monday, January 8th. Nomura boosted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company a buy rating in a research note on Thursday, October 26th. Morgan Stanley boosted their target price on Huntington Bancshares from $14.50 to $16.50 and gave the company an equal weight rating in a research note on Wednesday, December 13th. Finally, Barclays boosted their target price on Huntington Bancshares from $14.00 to $17.00 and gave the company an equal weight rating in a research note on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Huntington Bancshares has a consensus rating of Buy and an average target price of $16.31.

Huntington Bancshares (NASDAQ:HBAN) traded up $0.30 during trading hours on Friday, reaching $15.81. The company had a trading volume of 8,499,705 shares, compared to its average volume of 9,450,000. The firm has a market capitalization of $17,420.00, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. Huntington Bancshares has a 52-week low of $12.14 and a 52-week high of $16.00. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. sell-side analysts anticipate that Huntington Bancshares will post 0.98 earnings per share for the current year.

In other news, insider Helga Houston sold 14,513 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $13.77, for a total transaction of $199,844.01. Following the completion of the sale, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at approximately $5,930,507.60. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in shares of Huntington Bancshares by 21.7% during the 4th quarter. State of Alaska Department of Revenue now owns 181,048 shares of the bank’s stock worth $2,634,000 after acquiring an additional 32,290 shares in the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of Huntington Bancshares by 0.6% during the 4th quarter. Endurance Wealth Management Inc. now owns 838,303 shares of the bank’s stock worth $12,206,000 after acquiring an additional 5,174 shares in the last quarter. Berkshire Asset Management LLC PA boosted its stake in shares of Huntington Bancshares by 112.2% during the 4th quarter. Berkshire Asset Management LLC PA now owns 75,662 shares of the bank’s stock worth $1,102,000 after acquiring an additional 40,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 2.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,687,371 shares of the bank’s stock worth $53,689,000 after acquiring an additional 74,997 shares in the last quarter. Finally, Capital Investment Advisors LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter worth about $3,621,000. Institutional investors own 73.70% of the company’s stock.

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About Huntington Bancshares

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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