Huntington Bancshares Inc. (HBAN) Lowered to “Market Perform” at FBR & Co
FBR & Co cut shares of Huntington Bancshares Inc. (NASDAQ:HBAN) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday. The firm currently has $11.00 price target on the stock.
A number of other analysts have also recently weighed in on HBAN. Nomura reaffirmed a hold rating on shares of Huntington Bancshares in a research report on Saturday, July 9th. Barclays PLC reissued a hold rating on shares of Huntington Bancshares in a report on Saturday, July 9th. Zacks Investment Research raised Huntington Bancshares from a sell rating to a hold rating in a report on Tuesday, July 12th. Deutsche Bank AG reissued a hold rating and issued a $10.50 price target on shares of Huntington Bancshares in a report on Monday, June 27th. Finally, Wedbush assumed coverage on Huntington Bancshares in a report on Thursday, October 6th. They issued an outperform rating and a $12.00 price target for the company. Fifteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $11.12.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 0.050% during mid-day trading on Tuesday, reaching $10.015. The company’s stock had a trading volume of 1,844,219 shares. The company’s 50-day moving average is $9.85 and its 200 day moving average is $9.69. The firm has a market capitalization of $8.00 billion, a P/E ratio of 12.840 and a beta of 1.13. Huntington Bancshares has a 1-year low of $7.83 and a 1-year high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same period last year, the firm earned $0.23 EPS. On average, analysts expect that Huntington Bancshares will post $0.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 35.90%.
In other news, EVP David S. Anderson sold 9,006 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $9.82, for a total transaction of $88,438.92. Following the completion of the transaction, the executive vice president now directly owns 110,233 shares of the company’s stock, valued at $1,082,488.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas G. Stanutz sold 35,350 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $9.64, for a total value of $340,774.00. Following the transaction, the executive vice president now directly owns 434,650 shares of the company’s stock, valued at $4,190,026. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
A number of institutional investors have recently modified their holdings of HBAN. Renaissance Technologies LLC raised its position in shares of Huntington Bancshares by 3,035.4% in the first quarter. Renaissance Technologies LLC now owns 3,658,085 shares of the company’s stock worth $34,898,000 after buying an additional 3,541,414 shares during the period. Vanguard Group Inc. raised its position in shares of Huntington Bancshares by 4.3% in the second quarter. Vanguard Group Inc. now owns 76,653,889 shares of the company’s stock worth $685,286,000 after buying an additional 3,157,180 shares during the period. JPMorgan Chase & Co. raised its position in shares of Huntington Bancshares by 26.2% in the first quarter. JPMorgan Chase & Co. now owns 12,261,849 shares of the company’s stock worth $116,977,000 after buying an additional 2,545,124 shares during the period. Boston Partners raised its position in shares of Huntington Bancshares by 8.3% in the second quarter. Boston Partners now owns 30,106,450 shares of the company’s stock worth $269,152,000 after buying an additional 2,301,937 shares during the period. Finally, FMR LLC raised its position in shares of Huntington Bancshares by 3.1% in the second quarter. FMR LLC now owns 65,946,684 shares of the company’s stock worth $589,563,000 after buying an additional 1,995,364 shares during the period. 75.73% of the stock is owned by institutional investors and hedge funds.
About Huntington Bancshares
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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