Huntington Bancshares Inc. (HBAN) Lowered to “Market Perform” at FBR & Co
FBR & Co lowered shares of Huntington Bancshares Inc. (NASDAQ:HBAN) from an outperform rating to a market perform rating in a research note published on Tuesday morning. The brokerage currently has $11.00 price objective on the stock.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG upgraded shares of Huntington Bancshares from a hold rating to a buy rating and increased their target price for the company from $10.50 to $11.50 in a research note on Wednesday, September 28th. Jefferies Group reiterated a buy rating on shares of Huntington Bancshares in a research note on Thursday, August 4th. Credit Suisse Group AG reiterated a hold rating on shares of Huntington Bancshares in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Huntington Bancshares from a sell rating to a hold rating in a research note on Tuesday, July 12th. Finally, Nomura reiterated a hold rating on shares of Huntington Bancshares in a research note on Saturday, July 9th. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $11.12.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 0.050% during trading on Tuesday, reaching $10.015. The company had a trading volume of 1,844,219 shares. Huntington Bancshares has a 12-month low of $7.83 and a 12-month high of $11.87. The firm has a 50-day moving average of $9.85 and a 200-day moving average of $9.69. The company has a market cap of $8.00 billion, a P/E ratio of 12.840 and a beta of 1.13.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a net margin of 20.85% and a return on equity of 11.07%. During the same period last year, the company earned $0.23 earnings per share. On average, equities research analysts anticipate that Huntington Bancshares will post $0.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, September 15th. Huntington Bancshares’s dividend payout ratio is presently 35.90%.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 35,350 shares of Huntington Bancshares stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $9.64, for a total transaction of $340,774.00. Following the completion of the sale, the executive vice president now owns 434,650 shares of the company’s stock, valued at approximately $4,190,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David S. Anderson sold 9,006 shares of Huntington Bancshares stock in a transaction 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 sale, the executive vice president now directly owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HBAN. Rafferty Asset Management LLC boosted its position in shares of Huntington Bancshares by 116.4% in the first quarter. Rafferty Asset Management LLC now owns 158,696 shares of the company’s stock worth $1,514,000 after buying an additional 85,345 shares in the last quarter. Pegasus Partners Ltd. purchased a new position in shares of Huntington Bancshares during the first quarter worth $465,000. BB&T Securities LLC boosted its position in shares of Huntington Bancshares by 161.3% in the first quarter. BB&T Securities LLC now owns 386,450 shares of the company’s stock worth $3,687,000 after buying an additional 238,545 shares in the last quarter. Lumbard & Kellner LLC boosted its position in shares of Huntington Bancshares by 3.3% in the first quarter. Lumbard & Kellner LLC now owns 232,825 shares of the company’s stock worth $2,221,000 after buying an additional 7,465 shares in the last quarter. Finally, Aviva PLC boosted its position in shares of Huntington Bancshares by 0.9% in the first quarter. Aviva PLC now owns 408,710 shares of the company’s stock worth $3,899,000 after buying an additional 3,703 shares in the last quarter. 75.73% of the stock is 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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