Sandler O’Neill Lowers Huntington Bancshares (HBAN) to Hold

Sandler O’Neill downgraded shares of Huntington Bancshares (NASDAQ:HBAN) from a buy rating to a hold rating in a report released on Thursday morning, Marketbeat reports. They currently have $16.00 price objective on the bank’s stock. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued research reports about the company. BidaskClub raised Huntington Bancshares from a hold rating to a buy rating in a report on Saturday, August 4th. Zacks Investment Research cut Huntington Bancshares from a buy rating to a hold rating in a report on Tuesday, October 9th. Jefferies Financial Group boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, August 8th. BMO Capital Markets dropped their target price on Huntington Bancshares from $17.00 to $15.00 and set a market perform rating on the stock in a report on Wednesday, October 24th. Finally, Wedbush cut Huntington Bancshares from an outperform rating to a neutral rating and dropped their target price for the stock from $18.00 to $16.00 in a report on Friday, November 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Huntington Bancshares currently has a consensus rating of Hold and a consensus target price of $16.92.

Shares of NASDAQ HBAN opened at $14.59 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $15.49 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.82 and a beta of 1.26. Huntington Bancshares has a 12-month low of $13.13 and a 12-month high of $16.60.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Huntington Bancshares will post 1.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.56 annualized dividend and a dividend yield of 3.84%. Huntington Bancshares’s dividend payout ratio is currently 57.14%.

In other Huntington Bancshares news, insider Helga Houston sold 42,608 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $14.66, for a total value of $624,633.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathleen H. Ransier sold 4,820 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $14.53, for a total value of $70,034.60. Following the completion of the transaction, the director now directly owns 113,712 shares in the company, valued at approximately $1,652,235.36. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Columbia Asset Management acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $103,000. NuWave Investment Management LLC raised its stake in Huntington Bancshares by 5,991.8% during the 3rd quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock valued at $133,000 after purchasing an additional 8,748 shares during the period. Dupont Capital Management Corp raised its stake in Huntington Bancshares by 79.3% during the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock valued at $143,000 after purchasing an additional 4,270 shares during the period. GAM Holding AG acquired a new stake in Huntington Bancshares during the 2nd quarter valued at $154,000. Finally, Donaldson Capital Management LLC acquired a new stake in Huntington Bancshares during the 3rd quarter valued at $172,000. 76.42% of the stock is currently owned by institutional investors.

About Huntington Bancshares

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).

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Huntington Bancshares (NASDAQ:HBAN)

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