Wall Street Zen Downgrades Huntington Bancshares (NASDAQ:HBAN) to Sell

Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other brokerages also recently commented on HBAN. Wolfe Research upgraded shares of Huntington Bancshares from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Thursday, July 3rd. Citigroup lifted their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, September 19th. Jefferies Financial Group lifted their price target on shares of Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley boosted their target price on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.76.

Huntington Bancshares Stock Up 2.2%

Shares of NASDAQ HBAN opened at $15.84 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44. The firm has a 50-day moving average price of $17.08 and a 200 day moving average price of $16.14. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The firm had revenue of $469.00 million during the quarter. Equities research analysts anticipate that Huntington Bancshares will post 1.39 EPS for the current fiscal year.

Insider Activity at Huntington Bancshares

In other news, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the transaction, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Miracle Mile Advisors LLC bought a new stake in shares of Huntington Bancshares in the third quarter worth $217,000. Chris Bulman Inc increased its stake in shares of Huntington Bancshares by 7.8% in the third quarter. Chris Bulman Inc now owns 11,698 shares of the bank’s stock worth $202,000 after buying an additional 847 shares during the last quarter. Smith Salley Wealth Management increased its stake in shares of Huntington Bancshares by 1.9% in the third quarter. Smith Salley Wealth Management now owns 178,626 shares of the bank’s stock worth $3,085,000 after buying an additional 3,383 shares during the last quarter. Ascent Group LLC bought a new stake in shares of Huntington Bancshares in the third quarter worth $1,400,000. Finally, Strategic Planning Inc. increased its stake in shares of Huntington Bancshares by 0.3% in the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock worth $3,442,000 after buying an additional 670 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

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.