Huntington Bancshares Inc. (HBAN) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Huntington’s profitability growth remains challenged by several issues including escalating costs. Further, the low rate environment has taken a toll on the bank’s net interest margin (NIM) which will continue to remain under pressure if there is no rise in interest rates. Additionally, the stringent regulations across the finance sector limit the company’s growth opportunities. However, the company continues to benefit from growing loans and deposits balances. Notably, the acquisition of FirstMerit Corp. is expected to be accretive to Huntington’s earnings per share next year.”
A number of other analysts have also issued reports on the company. Deutsche Bank AG reissued a hold rating on shares of Huntington Bancshares in a research note on Wednesday, June 15th. JPMorgan Chase & Co. reissued a hold rating and issued a $10.50 price target on shares of Huntington Bancshares in a research note on Thursday, June 9th. Barclays PLC reissued a hold rating on shares of Huntington Bancshares in a research note on Saturday, July 9th. Robert W. Baird lowered Huntington Bancshares from an outperform rating to a neutral rating and set a $12.00 price target on the stock. in a research note on Thursday, May 26th. Finally, BMO Capital Markets reissued a market perform rating and issued a $11.00 price target on shares of Huntington Bancshares in a research note on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $11.08.
Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 9.81 on Wednesday. The company’s 50 day moving average is $9.72 and its 200-day moving average is $9.66. Huntington Bancshares has a 1-year low of $7.83 and a 1-year high of $11.87. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 12.58 and a beta of 1.07.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. Huntington Bancshares had a net margin of 20.85% and a return on equity of 11.07%. During the same period last year, the business posted $0.23 EPS. Equities analysts anticipate that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 15th. Huntington Bancshares’s dividend payout ratio is presently 35.90%.
In other news, EVP David S. Anderson sold 9,006 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $9.82, for a total value of $88,438.92. Following the sale, the executive vice president now owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Stanutz sold 35,350 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total value of $340,774.00. Following the completion of the sale, the executive vice president now directly owns 434,650 shares in the company, valued at approximately $4,190,026. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of HBAN. MCF Advisors LLC increased its stake in Huntington Bancshares by 0.6% in the second quarter. MCF Advisors LLC now owns 15,028 shares of the company’s stock worth $134,000 after buying an additional 86 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Huntington Bancshares by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 22,785 shares of the company’s stock worth $204,000 after buying an additional 92 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Huntington Bancshares by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 30,477 shares of the company’s stock worth $272,000 after buying an additional 121 shares in the last quarter. Brown Advisory Securities LLC increased its stake in Huntington Bancshares by 2.1% in the second quarter. Brown Advisory Securities LLC now owns 11,106 shares of the company’s stock worth $101,000 after buying an additional 229 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Huntington Bancshares by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 30,908 shares of the company’s stock worth $276,000 after buying an additional 350 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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