Huntington Bancshares (NASDAQ:HBAN) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird cut shares of Huntington Bancshares (NASDAQ:HBAN) from an outperform rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has $15.00 target price on the bank’s stock.

A number of other research firms also recently weighed in on HBAN. Royal Bank of Canada increased their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an outperform rating in a report on Monday, July 22nd. Citigroup increased their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a buy rating in a report on Monday, July 22nd. Jefferies Financial Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $17.00 to $16.50 and set an overweight rating on the stock in a report on Thursday, June 27th. Finally, Evercore ISI lowered their target price on Huntington Bancshares from $16.50 to $15.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $15.47.

Huntington Bancshares Trading Up 0.5 %

NASDAQ HBAN opened at $15.13 on Friday. The stock has a market cap of $21.93 billion, a P/E ratio of 13.63, a P/E/G ratio of 3.08 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $15.24. The stock’s fifty day moving average price is $13.45 and its 200-day moving average price is $13.31.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, equities analysts forecast that Huntington Bancshares will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insider Buying and Selling

In related news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of Huntington Bancshares 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 completion of the sale, the insider now directly owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The disclosure for this sale can be found here. In the last three months, insiders sold 158,165 shares of company stock valued at $2,301,069. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HBAN. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares during the 4th quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at about $29,000. Nemes Rush Group LLC lifted its holdings in shares of Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares in the 1st quarter valued at about $30,000. Finally, Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at about $33,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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.