Huntington Bancshares (NASDAQ:HBAN) Downgraded by Baird R W

Baird R W lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a strong-buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

HBAN has been the subject of a number of other research reports. Evercore ISI lowered their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, July 3rd. Bank of America boosted their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a buy rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a market perform rating on the stock in a research note on Tuesday, July 9th. Finally, StockNews.com downgraded shares of Huntington Bancshares from a hold rating to a sell rating in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has an average rating of Moderate Buy and a consensus target price of $15.47.

Huntington Bancshares Trading Up 0.5 %

Shares of HBAN opened at $15.13 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24. The firm has a market capitalization of $21.93 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 3.09 and a beta of 1.06. The stock’s fifty day simple moving average is $13.45 and its 200-day simple moving average is $13.31.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the previous year, the business posted $0.35 EPS. As a group, research analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.10%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Activity

In related news, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold 130,900 shares of company stock worth $1,932,719 over the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Large investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its stake in shares of Huntington Bancshares by 6.5% during the 2nd quarter. HB Wealth Management LLC now owns 28,931 shares of the bank’s stock worth $381,000 after acquiring an additional 1,777 shares during the period. Kintegral Advisory LLC boosted its position in Huntington Bancshares by 21.9% during the second quarter. Kintegral Advisory LLC now owns 162,614 shares of the bank’s stock worth $2,164,000 after purchasing an additional 29,264 shares during the period. WealthShield Partners LLC boosted its position in Huntington Bancshares by 5.9% during the second quarter. WealthShield Partners LLC now owns 12,237 shares of the bank’s stock worth $163,000 after purchasing an additional 683 shares during the period. Aspen Investment Management Inc increased its holdings in shares of Huntington Bancshares by 14.9% in the second quarter. Aspen Investment Management Inc now owns 106,550 shares of the bank’s stock valued at $1,405,000 after purchasing an additional 13,795 shares during the last quarter. Finally, GAM Holding AG raised its position in shares of Huntington Bancshares by 2.9% in the second quarter. GAM Holding AG now owns 576,970 shares of the bank’s stock valued at $7,604,000 after purchasing an additional 16,169 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.