Huntington Bancshares (NASDAQ:HBAN) Lowered to Underperform at Macquarie

Share on StockTwits

Macquarie lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to an underperform rating in a report released on Friday morning, Benzinga reports. They currently have $13.78 price objective on the bank’s stock.

HBAN has been the subject of several other research reports. Argus downgraded shares of Abercrombie & Fitch from a buy rating to a hold rating in a research note on Friday, May 31st. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. BMO Capital Markets reissued a hold rating on shares of Snc-Lavalin Group in a research note on Monday, July 8th. Finally, BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $15.80.

Huntington Bancshares stock opened at $13.68 on Friday. Huntington Bancshares has a 52 week low of $11.12 and a 52 week high of $16.52. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.92. The stock has a 50-day simple moving average of $13.46. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.35 and a beta of 1.38.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Huntington Bancshares had a net margin of 26.24% and a return on equity of 14.20%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Huntington Bancshares will post 1.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, June 14th. Huntington Bancshares’s dividend payout ratio is currently 46.67%.

In related news, CEO Stephen D. Steinour acquired 18,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $13.33 per share, with a total value of $239,940.00. Following the purchase, the chief executive officer now directly owns 5,142,348 shares in the company, valued at approximately $68,547,498.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Remiker sold 18,386 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $14.02, for a total transaction of $257,771.72. Following the transaction, the executive vice president now directly owns 357,085 shares of the company’s stock, valued at approximately $5,006,331.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,158 shares of company stock valued at $978,909. Corporate insiders own 1.22% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of HBAN. RWC Asset Management LLP increased its position in Huntington Bancshares by 9.5% during the fourth quarter. RWC Asset Management LLP now owns 4,817,763 shares of the bank’s stock worth $57,429,000 after purchasing an additional 416,021 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in Huntington Bancshares in the fourth quarter valued at approximately $213,000. Nomura Asset Management Co. Ltd. raised its holdings in Huntington Bancshares by 5.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 177,002 shares of the bank’s stock worth $2,110,000 after purchasing an additional 8,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Huntington Bancshares during the fourth quarter worth approximately $288,000. Finally, Commonwealth Bank of Australia raised its holdings in Huntington Bancshares by 22.4% during the fourth quarter. Commonwealth Bank of Australia now owns 119,855 shares of the bank’s stock worth $1,423,000 after purchasing an additional 21,907 shares in the last quarter. 75.96% of the stock is owned by institutional investors.

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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

Featured Article: How is a price target determined?

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

Receive News & Ratings for Huntington Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.