Zacks Research Downgrades Huntington Bancshares (NASDAQ:HBAN) to Strong Sell

Huntington Bancshares (NASDAQ:HBAN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Huntington Bancshares in a report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $19.00 price objective (down from $21.00) on shares of Huntington Bancshares in a research report on Friday, July 24th. UBS Group set a $18.00 target price on shares of Huntington Bancshares in a report on Tuesday. Evercore reduced their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Finally, Jefferies Financial Group dropped their price objective on Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.43.

Huntington Bancshares Stock Up 0.3%

Huntington Bancshares stock opened at $15.33 on Monday. The firm has a 50 day simple moving average of $16.66 and a 200 day simple moving average of $16.67. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.63. Huntington Bancshares has a 1-year low of $14.82 and a 1-year high of $19.45. The firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.93 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%.During the same period last year, the company earned $0.34 earnings per share. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. On average, analysts predict that Huntington Bancshares will post 1.55 earnings per share for the current year.

Insider Activity at Huntington Bancshares

In related news, insider Kendall Kowalski sold 27,971 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at $1,204,430. This represents a 28.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of HBAN. BlackRock Inc. purchased a new stake in shares of Huntington Bancshares during the second quarter worth about $3,134,426,000. Victory Capital Management Inc. increased its holdings in Huntington Bancshares by 9.3% during the 4th quarter. Victory Capital Management Inc. now owns 37,412,989 shares of the bank’s stock valued at $649,115,000 after purchasing an additional 3,182,001 shares during the period. Dimensional Fund Advisors LP increased its holdings in Huntington Bancshares by 27.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after purchasing an additional 5,026,894 shares during the period. Amundi raised its position in Huntington Bancshares by 30.7% during the 1st quarter. Amundi now owns 19,502,547 shares of the bank’s stock valued at $305,215,000 after purchasing an additional 4,578,566 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Huntington Bancshares in the 2nd quarter worth approximately $256,772,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.