StockNews.com cut shares of Huntington Bancshares (NASDAQ:HBAN – Get Rating) from a hold rating to a sell rating in a research report released on Monday morning.
Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an outperform rating in a report on Friday, November 11th. Stephens lowered shares of Huntington Bancshares from an overweight rating to an equal weight rating and boosted their price target for the company from $15.00 to $16.00 in a research report on Monday, October 24th. The Goldman Sachs Group upped their target price on shares of Huntington Bancshares to $17.50 in a research report on Wednesday, November 16th. DA Davidson assumed coverage on shares of Huntington Bancshares in a research report on Tuesday, December 20th. They set a neutral rating and a $15.00 price target for the company. They noted that the move was a valuation call. Finally, Morgan Stanley cut their price target on shares of Huntington Bancshares from $19.00 to $18.00 and set an overweight rating for the company in a research report on Monday, January 23rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of Hold and a consensus price target of $15.53.
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Huntington Bancshares Stock Performance
Shares of HBAN opened at $15.22 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50-day moving average of $14.51 and a 200-day moving average of $14.14. The company has a market cap of $21.96 billion, a PE ratio of 10.50, a P/E/G ratio of 0.30 and a beta of 1.12. Huntington Bancshares has a one year low of $11.67 and a one year high of $16.51.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 20th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, March 17th. Huntington Bancshares's payout ratio is currently 42.76%.
Insider Buying and Selling
In related news, Director David L. Porteous sold 80,000 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $15.01, for a total value of $1,200,800.00. Following the completion of the transaction, the director now directly owns 62,845 shares of the company's stock, valued at $943,303.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Huntington Bancshares news, VP Michael Scott Jones sold 50,000 shares of the company's stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $15.25, for a total value of $762,500.00. Following the sale, the vice president now owns 52,647 shares in the company, valued at $802,866.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Porteous sold 80,000 shares of the company's stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $15.01, for a total transaction of $1,200,800.00. Following the completion of the sale, the director now owns 62,845 shares in the company, valued at approximately $943,303.45. The disclosure for this sale can be found here. Insiders sold a total of 167,804 shares of company stock valued at $2,547,579 over the last three months. Corporate insiders own 0.72% of the company's stock.
Institutional Investors Weigh In On Huntington Bancshares
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Advocates Investment Management grew its holdings in Huntington Bancshares by 2.1% in the third quarter. Financial Advocates Investment Management now owns 33,300 shares of the bank's stock worth $439,000 after purchasing an additional 678 shares during the period. Assetmark Inc. grew its holdings in Huntington Bancshares by 4.4% in the third quarter. Assetmark Inc. now owns 16,156 shares of the bank's stock worth $213,000 after purchasing an additional 680 shares during the period. Ballentine Partners LLC grew its holdings in shares of Huntington Bancshares by 5.5% during the fourth quarter. Ballentine Partners LLC now owns 13,096 shares of the bank's stock valued at $185,000 after buying an additional 681 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Huntington Bancshares by 6.8% during the third quarter. Lake Street Advisors Group LLC now owns 11,479 shares of the bank's stock valued at $151,000 after buying an additional 729 shares during the last quarter. Finally, Farmers Trust Co. grew its holdings in shares of Huntington Bancshares by 0.7% during the fourth quarter. Farmers Trust Co. now owns 103,156 shares of the bank's stock valued at $1,454,000 after buying an additional 767 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.
About Huntington Bancshares
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Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, other financial products and services.
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