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

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

A number of other analysts have also recently weighed in on HBAN. Piper Sandler raised their price objective on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday. Evercore ISI lowered their target price on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.47.

Huntington Bancshares Stock Up 0.9 %

Shares of NASDAQ:HBAN opened at $15.06 on Friday. The firm’s 50 day moving average price is $13.43 and its 200 day moving average price is $13.29. The stock 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 fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the company earned $0.35 earnings per share. As a group, equities research analysts predict that Huntington Bancshares will post 1.19 earnings per share for the current fiscal year.

Insider Transactions at Huntington Bancshares

In other news, VP Rajeev Syal sold 27,265 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $13.51, for a total transaction of $368,350.15. Following the completion of the sale, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Huntington Bancshares news, VP Rajeev Syal sold 27,265 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $13.51, for a total value of $368,350.15. Following the completion of the transaction, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,418 shares of company stock worth $2,214,979. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently made changes to their positions in the business. Fullcircle Wealth LLC acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $151,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Huntington Bancshares during the 2nd quarter valued at approximately $411,000. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Huntington Bancshares by 4.1% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 734,880 shares of the bank’s stock valued at $9,686,000 after acquiring an additional 28,640 shares in the last quarter. Everhart Financial Group Inc. grew its stake in Huntington Bancshares by 1.8% during the 2nd quarter. Everhart Financial Group Inc. now owns 54,470 shares of the bank’s stock worth $718,000 after buying an additional 984 shares during the last quarter. Finally, JB Capital LLC grew its stake in Huntington Bancshares by 2.4% during the 2nd quarter. JB Capital LLC now owns 185,954 shares of the bank’s stock worth $2,451,000 after buying an additional 4,287 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

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.