Huntington Bancshares (NASDAQ:HBAN) Rating Lowered to Underperform at BMO Capital Markets
BMO Capital Markets cut shares of Huntington Bancshares (NASDAQ:HBAN) from a market perform rating to an underperform rating in a report released on Monday, Benzinga reports. BMO Capital Markets currently has $14.00 price objective on the bank’s stock.
Several other equities research analysts have also issued reports on the stock. Argus lowered shares of Abercrombie & Fitch from a buy rating to a hold rating in a research note on Friday, May 31st. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Huntington Bancshares presently has an average rating of Hold and a consensus target price of $16.00.
Shares of HBAN stock opened at $13.86 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 1 year low of $11.12 and a 1 year high of $16.52. The company has a fifty day simple moving average of $13.40. The firm has a market cap of $14.36 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.16 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.67%.
In other news, CEO Stephen D. Steinour acquired 18,000 shares of the firm’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 transaction, 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 is accessible through this hyperlink. Also, EVP Paul G. Heller sold 33,772 shares of Huntington Bancshares stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $13.08, for a total transaction of $441,737.76. Following the completion of the transaction, the executive vice president now directly owns 458,479 shares of the company’s stock, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. In the last three months, insiders sold 72,158 shares of company stock valued at $978,909. Insiders own 1.22% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position 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 valued at $1,099,129,000 after acquiring an additional 12,896,475 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Huntington Bancshares by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after buying an additional 6,400,061 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Huntington Bancshares by 1.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,059,755 shares of the bank’s stock worth $190,959,000 after buying an additional 221,076 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Huntington Bancshares by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 14,526,595 shares of the bank’s stock worth $172,863,000 after buying an additional 709,854 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Huntington Bancshares by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,117,471 shares of the bank’s stock worth $168,284,000 after buying an additional 1,714,381 shares during the period. 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).
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