Huntington Bancshares (NASDAQ:HBAN) Lowered to “Strong Sell” Rating by Barclays

Huntington Bancshares (NASDAQ:HBAN) was downgraded by stock analysts at Barclays from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

HBAN has been the subject of a number of other research reports. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Truist Financial cut their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Argus increased their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group cut their target price on shares of Huntington Bancshares from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.13.

Huntington Bancshares Stock Down 0.5%

HBAN stock opened at $16.97 on Monday. Huntington Bancshares has a 12-month low of $13.60 and a 12-month high of $19.45. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The company has a market cap of $34.57 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.74 and a beta of 0.95. The company has a 50 day moving average of $16.36 and a two-hundred day moving average of $16.72.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company earned $0.34 EPS. On average, equities analysts anticipate that Huntington Bancshares will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III purchased 6,873 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $23.27 per share, for a total transaction of $159,934.71. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at $93,080. This trade represents a -239.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary Torgow purchased 14,200 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were acquired at an average price of $17.81 per share, for a total transaction of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at $16,800,903.21. This represents a 1.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 27,700 shares of company stock worth $540,401 and have sold 98,986 shares worth $1,600,958. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sagespring Wealth Partners LLC raised its holdings in Huntington Bancshares by 2.4% in the 4th quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock worth $438,000 after acquiring an additional 587 shares during the period. Values First Advisors Inc. raised its holdings in Huntington Bancshares by 3.0% in the 1st quarter. Values First Advisors Inc. now owns 20,564 shares of the bank’s stock worth $322,000 after acquiring an additional 604 shares during the period. MCF Advisors LLC raised its holdings in Huntington Bancshares by 12.6% in the 4th quarter. MCF Advisors LLC now owns 5,438 shares of the bank’s stock worth $95,000 after acquiring an additional 609 shares during the period. Parcion Private Wealth LLC raised its holdings in Huntington Bancshares by 6.2% in the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock worth $191,000 after acquiring an additional 648 shares during the period. Finally, Balboa Wealth Partners raised its holdings in Huntington Bancshares by 2.5% in the 1st quarter. Balboa Wealth Partners now owns 27,042 shares of the bank’s stock worth $423,000 after acquiring an additional 662 shares during the period. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.