Huntington Bancshares Inc. (HBAN) Stock Rating Lowered by Jefferies Group
Huntington Bancshares Inc. (NASDAQ:HBAN) was downgraded by investment 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 prior price objective of $12.00. Jefferies Group’s price target would indicate a potential upside of 14.01% from the company’s current price.
Several other brokerages have also commented on HBAN. Macquarie raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $12.44 to $14.00 in a research report on Tuesday, November 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Huntington Bancshares in a research report on Saturday, November 19th. Wedbush started coverage on shares of Huntington Bancshares in a research report on Thursday, October 6th. They issued an “outperform” rating and a $12.00 price objective on the stock. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research 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 objective on the stock. in a research report on Tuesday, October 11th. Twelve research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Huntington Bancshares currently has an average rating of “Hold” and a consensus target price of $11.41.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 12.28 on Monday. The company has a market cap of $13.32 billion, a P/E ratio of 17.34 and a beta of 1.16. The stock’s 50 day moving average is $10.90 and its 200-day moving average is $9.95. Huntington Bancshares has a one year low of $7.83 and a one year high of $12.68.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.22 earnings per share 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 quarter last year, the company earned $0.18 EPS. Equities research analysts forecast that Huntington Bancshares will post $0.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Tuesday, December 20th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, December 16th. Huntington Bancshares’s payout ratio is presently 39.44%.
In other news, insider Sandra E. Pierce sold 52,994 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $11.62, for a total value of $615,790.28. Following the completion of the sale, the insider now directly owns 495,651 shares in the company, valued at approximately $5,759,464.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David S. Anderson sold 10,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $10.60, for a total transaction of $106,116.60. Following the completion of the sale, the executive vice president now owns 102,580 shares of the company’s stock, valued at $1,087,348. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in HBAN. MCF Advisors LLC raised its stake in Huntington Bancshares by 0.6% in the second quarter. MCF Advisors LLC now owns 15,028 shares of the company’s stock worth $134,000 after buying an additional 86 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Huntington Bancshares by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 22,785 shares of the company’s stock worth $204,000 after buying an additional 92 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Huntington Bancshares by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 30,477 shares of the company’s stock worth $272,000 after buying an additional 121 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Huntington Bancshares by 0.8% in the third quarter. Cetera Advisor Networks LLC now owns 17,583 shares of the company’s stock worth $173,000 after buying an additional 136 shares in the last quarter. Finally, Concert Wealth Management Inc. raised its stake in Huntington Bancshares by 1.1% in the third quarter. Concert Wealth Management Inc. now owns 14,766 shares of the company’s stock worth $145,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.
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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