Huntington Bancshares (NASDAQ:HBAN) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report released on Friday, MarketBeat reports. They presently have a $13.78 price objective on the bank’s stock. Macquarie’s target price points to a potential downside of 0.65% from the stock’s current price.
HBAN has been the topic of a number of other research reports. 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. Argus lowered Abercrombie & Fitch from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. BMO Capital Markets reissued a “hold” rating on shares of Snc-Lavalin Group in a research report on Monday, July 8th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.80.
HBAN stock opened at $13.87 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.92. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.18 and a beta of 1.38. The firm has a 50-day moving average of $13.42. Huntington Bancshares has a 1 year low of $11.12 and a 1 year high of $16.52.
In related news, EVP Mark E. Thompson sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $13.97, for a total transaction of $279,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen D. Steinour purchased 18,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the purchase, the chief executive officer now directly owns 5,142,348 shares in the company, valued at $68,547,498.84. The disclosure for this purchase can be found here. Insiders have sold a total of 72,158 shares of company stock worth $978,909 in the last three months. Corporate insiders own 1.22% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HBAN. BlackRock Inc. grew its stake in Huntington Bancshares by 17.5% during the 1st quarter. BlackRock Inc. now owns 86,682,134 shares of the bank’s stock worth $1,099,129,000 after buying an additional 12,896,475 shares during the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $105,381,000. JPMorgan Chase & Co. grew its stake in Huntington Bancshares by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 37,418,779 shares of the bank’s stock worth $474,471,000 after buying an additional 6,400,061 shares during the last quarter. Federated Investors Inc. PA grew its stake in Huntington Bancshares by 151.5% during the 1st quarter. Federated Investors Inc. PA now owns 6,281,173 shares of the bank’s stock worth $79,646,000 after buying an additional 3,784,133 shares during the last quarter. Finally, APG Asset Management N.V. grew its stake in Huntington Bancshares by 5,477.5% during the 4th quarter. APG Asset Management N.V. now owns 2,454,100 shares of the bank’s stock worth $25,590,000 after buying an additional 2,410,100 shares during the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.
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).
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