Huntington Bancshares (NASDAQ:HBAN) Rating Lowered to Neutral at DA Davidson

DA Davidson lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a buy rating to a neutral rating in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $16.00 price objective on the bank’s stock. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Huntington Bancshares from a sell rating to a hold rating in a research report on Tuesday, May 21st. Argus assumed coverage on shares of Huntington Bancshares in a research report on Friday, May 31st. They issued a hold rating for the company. Nomura set a $14.00 target price on shares of Huntington Bancshares and gave the stock a hold rating in a research report on Friday, July 26th. Macquarie cut shares of Huntington Bancshares from a neutral rating to an underperform rating and set a $13.78 target price for the company. in a research report on Friday, July 12th. Finally, Raymond James set a $14.00 target price on shares of Huntington Bancshares and gave the stock a buy rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $15.48.

Shares of NASDAQ:HBAN opened at $14.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a fifty-two week low of $11.12 and a fifty-two week high of $16.06. The firm has a 50-day simple moving average of $13.34 and a 200 day simple moving average of $13.48. The company has a market cap of $15.20 billion, a PE ratio of 12.18, a P/E/G ratio of 1.60 and a beta of 1.44.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Huntington Bancshares had a net margin of 25.77% and a return on equity of 14.23%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Huntington Bancshares will post 1.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a $0.15 dividend. This is a boost from Huntington Bancshares’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.60 annualized dividend and a yield of 4.10%. Huntington Bancshares’s dividend payout ratio is 46.67%.

In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $14.57, for a total value of $37,940.28. Following the completion of the transaction, the executive vice president now owns 80,103 shares in the company, valued at approximately $1,167,100.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of HBAN. BlackRock Inc. lifted its stake in shares of Huntington Bancshares by 17.5% in the 1st quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock worth $1,099,129,000 after acquiring an additional 12,896,475 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Huntington Bancshares by 20.6% in the 1st quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after acquiring an additional 6,400,061 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Huntington Bancshares by 6,315.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,523,273 shares of the bank’s stock worth $76,331,000 after acquiring an additional 5,437,181 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Huntington Bancshares by 151.5% in the 1st quarter. Federated Investors Inc. PA now owns 6,281,173 shares of the bank’s stock worth $79,646,000 after acquiring an additional 3,784,133 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Huntington Bancshares by 34.3% in the 2nd quarter. Invesco Ltd. now owns 13,409,707 shares of the bank’s stock worth $185,323,000 after acquiring an additional 3,427,585 shares during the period. 75.13% of the stock is owned by institutional investors.

About Huntington Bancshares

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).

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Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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