Zacks Investment Research Downgrades Huntington Bancshares (HBAN) to Hold

Huntington Bancshares (NASDAQ:HBAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Shares of Huntington have outperformed the industry over the past six months. Yet, the company doesn’t have a decent earnings surprise history. It surpassed the Zacks Consensus Estimate in one of the trailing four quarters. Fourth-quarter 2017 results reflected Huntington’s robust organic growth, partially offset by higher expenses. With the Fed rate hikes, margin pressure for the company finally seems to be easing. Moreover, rising loans and deposits along with improved credit quality are tailwinds. Further, a lower corporate tax rate is likely to support financials. Also, the company's strong liquidity position keeps it well poised to expand through strategic initiatives, which will support profitability in the long run. However, increasing cost base continues to deter bottom-line growth. Also, unsustainable capital deployment activities keep us apprehensive.”

Several other brokerages have also recently issued reports on HBAN. FBR & Co reaffirmed a “hold” rating and set a $14.00 target price on shares of Huntington Bancshares in a research report on Thursday, October 26th. BidaskClub raised Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, January 9th. Nomura boosted their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, February 9th. Ten equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Huntington Bancshares has an average rating of “Buy” and an average price target of $16.75.

Huntington Bancshares (HBAN) opened at $15.89 on Tuesday. The stock has a market capitalization of $16,637.86, a P/E ratio of 15.84, a P/E/G ratio of 1.18 and a beta of 1.35. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.94. Huntington Bancshares has a 1 year low of $12.14 and a 1 year high of $16.53.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Huntington Bancshares had a return on equity of 12.12% and a net margin of 25.02%. During the same quarter in the previous year, the firm earned $0.18 earnings per share. research analysts forecast that Huntington Bancshares will post 1.2 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Kovack Advisors Inc. bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at $147,000. Verition Fund Management LLC bought a new stake in shares of Huntington Bancshares in the second quarter valued at $139,000. Alpha Cubed Investments LLC bought a new stake in shares of Huntington Bancshares in the third quarter valued at $151,000. Mariner Wealth Advisors LLC bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at $158,000. Finally, ClariVest Asset Management LLC raised its stake in shares of Huntington Bancshares by 53.4% in the third quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock valued at $156,000 after buying an additional 3,900 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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