Robert W. Baird Lowers Huntington Bancshares (NASDAQ:HBAN) to Neutral

Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Friday, Briefing.com reports. They currently have a $15.00 price target on the bank’s stock. Robert W. Baird’s price target would suggest a potential downside of 0.40% from the company’s current price.

Several other research firms also recently commented on HBAN. UBS Group cut their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Keefe, Bruyette & Woods cut their price objective on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price objective on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Argus raised their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday. Finally, StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.47.

Huntington Bancshares Trading Up 0.9 %

NASDAQ:HBAN opened at $15.06 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 3.05 and a beta of 1.06. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.24. The firm has a 50-day moving average price of $13.43 and a two-hundred day moving average price of $13.29.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts expect that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total value of $158,941.09. Following the completion of the transaction, the vice president now directly owns 329,607 shares in the company, valued at $4,505,727.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Rajeev Syal sold 11,627 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $13.67, for a total transaction of $158,941.09. Following the completion of the transaction, the vice president now owns 329,607 shares in the company, valued at $4,505,727.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 152,418 shares of company stock valued at $2,214,979 over the last three months. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently bought and sold shares of the business. Boston Partners lifted its position in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. Norges Bank purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at $206,703,000. Dimensional Fund Advisors LP raised its stake in shares of Huntington Bancshares by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares during the period. Raymond James & Associates raised its stake in shares of Huntington Bancshares by 3.1% in the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock valued at $103,276,000 after acquiring an additional 225,911 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Huntington Bancshares by 39.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. 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.