Huntington Bancshares (NASDAQ:HBAN) Lowered to “Strong Sell” Rating by Barclays

Barclays cut shares of Huntington Bancshares (NASDAQ:HBAN) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on HBAN. Piper Sandler lifted their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods reduced their price target on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research report on Friday, January 23rd. Finally, Morgan Stanley reduced their price target on shares of Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.13.

Huntington Bancshares Trading Down 0.0%

HBAN stock traded down $0.01 during midday trading on Monday, reaching $16.97. 2,725,418 shares of the company’s stock traded hands, compared to its average volume of 31,945,824. The company has a market capitalization of $34.56 billion, a P/E ratio of 12.21, a PEG ratio of 0.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92. Huntington Bancshares has a fifty-two week low of $14.07 and a fifty-two week high of $19.45. The business has a 50-day moving average price of $16.36 and a two-hundred day moving average price of $16.72.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period last year, the firm earned $0.34 earnings per share. Equities research analysts forecast that Huntington Bancshares will post 1.61 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, March 18th. Huntington Bancshares’s payout ratio is 44.60%.

Insider Activity at Huntington Bancshares

In other news, insider Prashant Nateri sold 10,171 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.50, for a total transaction of $157,650.50. Following the completion of the transaction, the insider owned 83,819 shares of the company’s stock, valued at approximately $1,299,194.50. The trade was a 10.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total transaction of $1,001,298.40. Following the transaction, the vice president directly owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 27,700 shares of company stock valued at $540,401 and have sold 98,986 shares valued at $1,600,958. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Huntington Bancshares by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 191,319,041 shares of the bank’s stock valued at $3,319,385,000 after buying an additional 14,338,222 shares in the last quarter. State Street Corp lifted its stake in Huntington Bancshares by 4.7% during the fourth quarter. State Street Corp now owns 77,228,656 shares of the bank’s stock valued at $1,351,806,000 after buying an additional 3,438,501 shares in the last quarter. Wellington Management Group LLP lifted its stake in Huntington Bancshares by 4,265.5% during the fourth quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after buying an additional 68,478,435 shares in the last quarter. Boston Partners lifted its stake in Huntington Bancshares by 3.9% during the third quarter. Boston Partners now owns 63,302,953 shares of the bank’s stock valued at $1,091,615,000 after buying an additional 2,363,905 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Huntington Bancshares by 6.6% during the fourth quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock valued at $1,092,562,000 after buying an additional 3,908,927 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.