Huntington Bancshares Inc. (HBAN) Stock Rating Lowered by Jefferies Group
Huntington Bancshares Inc. (NASDAQ:HBAN) was downgraded by research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $14.00 price objective on the stock, up from their previous price objective of $12.00. Jefferies Group’s price objective points to a potential upside of 14.01% from the company’s previous close.
A number of other research analysts have also recently issued reports on HBAN. Macquarie upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $12.44 to $14.00 in a research note on Tuesday, November 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Huntington Bancshares in a report on Saturday, November 19th. Wedbush started coverage on shares of Huntington Bancshares in a report on Thursday, October 6th. They issued an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Wednesday, November 2nd. Finally, FBR & Co lowered shares of Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $11.00 price target for the company. in a report on Tuesday, October 11th. Twelve research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Huntington Bancshares has a consensus rating of “Hold” and a consensus target price of $11.41.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 12.28 on Monday. The stock has a 50 day moving average price of $10.90 and a 200-day moving average price of $9.95. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 17.34 and a beta of 1.16. Huntington Bancshares has a 12-month low of $7.83 and a 12-month high of $12.68.
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, beating 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 period in the previous year, the company earned $0.18 earnings per share. Equities analysts anticipate that Huntington Bancshares will post $0.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Tuesday, December 20th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, December 16th. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.61%. Huntington Bancshares’s payout ratio is 39.44%.
In other Huntington Bancshares news, EVP David S. Anderson sold 10,011 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $10.60, for a total transaction of $106,116.60. Following the sale, the executive vice president now directly owns 102,580 shares of the company’s stock, valued at approximately $1,087,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Stanutz sold 25,000 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $11.54, for a total transaction of $288,500.00. Following the sale, the executive vice president now directly owns 416,511 shares in the company, valued at $4,806,536.94. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
A number of large investors have recently modified their holdings of HBAN. The Manufacturers Life Insurance Company acquired a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $125,437,000. Credit Suisse AG boosted its stake in shares of Huntington Bancshares by 352.9% in the third quarter. Credit Suisse AG now owns 11,041,779 shares of the company’s stock valued at $108,873,000 after buying an additional 8,603,800 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Huntington Bancshares by 38.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 29,848,986 shares of the company’s stock valued at $294,311,000 after buying an additional 8,257,562 shares during the period. BlackRock Fund Advisors raised its position in Huntington Bancshares by 41.8% in the third quarter. BlackRock Fund Advisors now owns 18,487,283 shares of the company’s stock valued at $182,285,000 after buying an additional 5,445,943 shares in the last quarter. Finally, Northern Trust Corp raised its position in Huntington Bancshares by 57.8% in the third quarter. Northern Trust Corp now owns 14,109,975 shares of the company’s stock valued at $139,125,000 after buying an additional 5,166,081 shares in the last quarter. 68.80% of the stock is currently owned by hedge funds and other institutional investors.
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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