Huntington Bancshares (HBAN) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a report released on Friday morning.

HBAN has been the subject of several other reports. BidaskClub cut shares of Huntington Bancshares from a buy rating to a hold rating in a report on Thursday, September 13th. Vining Sparks reiterated a buy rating and issued a $19.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 9th. Morgan Stanley reiterated a hold rating and issued a $17.50 price objective (down from $17.75) on shares of Huntington Bancshares in a report on Tuesday, September 18th. Zacks Investment Research cut shares of Huntington Bancshares from a buy rating to a hold rating in a report on Monday, October 1st. Finally, Raymond James decreased their price objective on shares of Huntington Bancshares from $17.00 to $16.00 and set a buy rating for the company in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $17.13.

Huntington Bancshares stock opened at $14.37 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $15.17 billion, a PE ratio of 14.66, a P/E/G ratio of 0.80 and a beta of 1.26. Huntington Bancshares has a 12-month low of $13.04 and a 12-month high of $16.60.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Huntington Bancshares had a net margin of 29.13% and a return on equity of 13.73%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. As a group, sell-side analysts anticipate that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Tuesday, December 18th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Monday, December 17th. Huntington Bancshares’s payout ratio is 57.14%.

In other news, Director Richard W. Neu purchased 6,750 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, October 30th. The stock was acquired at an average price of $13.88 per share, for a total transaction of $93,690.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Howell D. Mccullough III sold 68,777 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the completion of the sale, the chief financial officer now owns 720,413 shares of the company’s stock, valued at approximately $11,649,078.21. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Brookstone Capital Management purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $202,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Huntington Bancshares by 105.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 683,870 shares of the bank’s stock valued at $10,203,000 after acquiring an additional 351,090 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Huntington Bancshares by 3.6% in the 3rd quarter. Gulf International Bank UK Ltd now owns 370,278 shares of the bank’s stock valued at $5,524,000 after acquiring an additional 13,000 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Huntington Bancshares by 34.3% in the 3rd quarter. WINTON GROUP Ltd now owns 14,376 shares of the bank’s stock valued at $214,000 after acquiring an additional 3,668 shares in the last quarter. Finally, Beach Investment Management LLC. purchased a new stake in shares of Huntington Bancshares in the 3rd quarter valued at approximately $864,000. Institutional investors and hedge funds own 73.99% 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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