Huntington Bancshares (NASDAQ:HBAN) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a sell rating in a report issued on Wednesday morning.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 price target (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday. Piper Sandler raised their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research note on Tuesday. Finally, DA Davidson boosted their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.24.

Huntington Bancshares Stock Down 0.5 %

HBAN opened at $17.61 on Wednesday. The company has a fifty day moving average price of $16.36 and a 200-day moving average price of $14.73. The firm has a market capitalization of $25.58 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 3.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a one year low of $11.68 and a one year high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the business posted $0.36 earnings per share. Equities research analysts expect that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.52%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HBAN. Kingswood Wealth Advisors LLC grew its stake in shares of Huntington Bancshares by 15.1% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 24,935 shares of the bank’s stock worth $329,000 after buying an additional 3,264 shares during the last quarter. CWM LLC grew its stake in shares of Huntington Bancshares by 1.9% in the 2nd quarter. CWM LLC now owns 181,652 shares of the bank’s stock worth $2,394,000 after buying an additional 3,429 shares during the last quarter. Wesbanco Bank Inc. grew its stake in shares of Huntington Bancshares by 1.2% in the 2nd quarter. Wesbanco Bank Inc. now owns 144,352 shares of the bank’s stock worth $1,903,000 after buying an additional 1,750 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Huntington Bancshares in the 2nd quarter worth approximately $8,212,000. Finally, OLD National Bancorp IN grew its stake in shares of Huntington Bancshares by 43.2% in the 2nd quarter. OLD National Bancorp IN now owns 49,763 shares of the bank’s stock worth $656,000 after buying an additional 15,003 shares during the last quarter. Institutional investors 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.