Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $16.00 price target on the bank’s stock, down from their prior price target of $18.00. Wedbush’s price target indicates a potential upside of 11.97% from the company’s previous close. Wedbush also issued estimates for Huntington Bancshares’ FY2020 earnings at $1.45 EPS.
HBAN has been the topic of several other research reports. BidaskClub lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Vining Sparks reissued a “buy” rating and set a $19.00 target price on shares of Huntington Bancshares in a research note on Tuesday, October 9th. ValuEngine lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Morgan Stanley reissued a “hold” rating and set a $17.50 target price (down previously from $17.75) on shares of Huntington Bancshares in a research note on Tuesday, September 18th. Finally, Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Huntington Bancshares currently has a consensus rating of “Hold” and a consensus target price of $17.13.
Shares of Huntington Bancshares stock opened at $14.29 on Friday. Huntington Bancshares has a 52 week low of $13.04 and a 52 week high of $16.60. The firm has a market capitalization of $15.17 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.80 and a beta of 1.26. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.96.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts forecast that Huntington Bancshares will post 1.22 earnings per share for the current fiscal year.
In other Huntington Bancshares news, CFO Howell D. Mccullough III sold 68,777 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the sale, the chief financial officer now owns 720,413 shares in the company, valued at approximately $11,649,078.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen D. Steinour purchased 17,493 shares of the business’s stock in a transaction on Thursday, October 25th. The shares were bought at an average price of $13.48 per share, for a total transaction of $235,805.64. Following the acquisition, the chief executive officer now owns 4,768,399 shares in the company, valued at $64,278,018.52. The disclosure for this purchase can be found here. 1.05% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. NuWave Investment Management LLC increased its holdings in shares of Huntington Bancshares by 5,991.8% in the 3rd quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock valued at $133,000 after acquiring an additional 8,748 shares during the last quarter. Dupont Capital Management Corp increased its holdings in shares of Huntington Bancshares by 79.3% in the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock valued at $143,000 after acquiring an additional 4,270 shares during the last quarter. GAM Holding AG purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $154,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $158,000. Finally, Atria Investments LLC purchased a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $177,000. Institutional investors own 73.73% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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