Huntington Bancshares (NASDAQ:HBAN) Lowered to Underperform at Macquarie

Macquarie lowered shares of Huntington Bancshares (NASDAQ:HBAN) from a neutral rating to an underperform rating in a research report sent to investors on Friday, Benzinga reports. Macquarie currently has $13.78 target price on the bank’s stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets reaffirmed a hold rating on shares of Snc-Lavalin Group in a research report on Monday, July 8th. Argus lowered Abercrombie & Fitch from a buy rating to a hold rating in a research report on Friday, May 31st. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. BidaskClub lowered Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Finally, ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $15.80.

Shares of NASDAQ HBAN opened at $13.68 on Friday. Huntington Bancshares has a 1-year low of $11.12 and a 1-year high of $16.52. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a fifty day moving average of $13.46. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.35 and a beta of 1.38.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 25th. The bank reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Huntington Bancshares will post 1.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.56 annualized dividend and a yield of 4.09%. Huntington Bancshares’s dividend payout ratio is currently 46.67%.

In related news, CEO Stephen D. Steinour purchased 18,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the transaction, the chief executive officer now directly owns 5,142,348 shares of the company’s stock, valued at approximately $68,547,498.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul G. Heller sold 33,772 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $13.08, for a total value of $441,737.76. Following the completion of the transaction, the executive vice president now owns 458,479 shares of the company’s stock, valued at approximately $5,996,905.32. The disclosure for this sale can be found here. Insiders have sold 72,158 shares of company stock valued at $978,909 in the last ninety days. Company insiders own 1.22% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Randolph Co Inc bought a new position in shares of Huntington Bancshares in the 2nd quarter valued at approximately $12,613,000. AdvisorNet Financial Inc raised its stake in shares of Huntington Bancshares by 28.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock valued at $61,000 after acquiring an additional 980 shares in the last quarter. Smith Salley & Associates raised its stake in shares of Huntington Bancshares by 89.6% in the 2nd quarter. Smith Salley & Associates now owns 193,899 shares of the bank’s stock valued at $2,680,000 after acquiring an additional 91,632 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Huntington Bancshares by 5.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 223,339 shares of the bank’s stock valued at $3,087,000 after acquiring an additional 12,136 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its stake in shares of Huntington Bancshares by 8.5% in the 2nd quarter. Zions Bancorporation N.A. now owns 71,984 shares of the bank’s stock valued at $995,000 after acquiring an additional 5,646 shares in the last quarter. Institutional investors and hedge funds own 75.96% of the company’s stock.

Huntington Bancshares Company Profile

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).

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