Piper Sandler Lowers Huntington Bancshares (NASDAQ:HBAN) to Underweight

Huntington Bancshares (NASDAQ:HBAN) was downgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $11.50 price target on the bank’s stock, down from their prior price target of $13.50. Piper Sandler’s price target indicates a potential downside of 7.03% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Evercore ISI boosted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. UBS Group lowered their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $16.00 target price on shares of Huntington Bancshares in a report on Tuesday, June 11th. Finally, Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.13.

Huntington Bancshares Trading Up 0.2 %

NASDAQ:HBAN opened at $12.37 on Friday. The stock has a market cap of $17.93 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. The stock’s 50-day moving average is $13.57 and its two-hundred day moving average is $13.07. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $14.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, equities research analysts forecast that Huntington Bancshares will post 1.21 earnings per share for the current fiscal year.

Insider Activity at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 15,948 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the transaction, the insider now directly owns 21,102 shares in the company, valued at $284,243.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kendall A. Kowalski sold 15,948 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total value of $214,819.56. Following the completion of the sale, the insider now owns 21,102 shares in the company, valued at $284,243.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.89% of the stock is owned by corporate insiders.

Institutional Trading of Huntington Bancshares

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the first quarter valued at $29,000. YHB Investment Advisors Inc. bought a new stake in Huntington Bancshares in the first quarter valued at $30,000. Wetzel Investment Advisors Inc. bought a new stake in Huntington Bancshares in the fourth quarter valued at $29,000. Nemes Rush Group LLC grew its position in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,391 shares during the period. Finally, Planned Solutions Inc. bought a new stake in shares of Huntington Bancshares during the fourth quarter worth $33,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Company Profile

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.