Market Rating: Is Jefferies Very Negative For Huntington Banc (NASDAQ:HBAN) After Its Downgrade?

November 28, 2016 - By Dolores Ford

Market Rating: Is Jefferies Very Negative For Huntington Banc (NASDAQ:HBAN) After Its Downgrade?

Huntington Banc (NASDAQ:HBAN) Downgrade

Jefferies cut Huntington Banc (NASDAQ:HBAN)‘s stock to a Hold rating from a Buy. This rating change was shared with investors and clients in a a research note today.

Huntington Bancshares Incorporated (NASDAQ:HBAN) Ratings Coverage

Out of 19 analysts covering Huntington Bancshares Incorporated (NASDAQ:HBAN), 7 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 37% are positive. $13 is the highest target while $9.50 is the lowest. The $11.28 average target is -9.32% below today’s ($12.44) stock price. Huntington Bancshares Incorporated has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Wednesday, January 27 by Macquarie Research. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) earned “Buy” rating by Guggenheim on Friday, August 28. The rating was upgraded by FBR Capital to “Outperform” on Monday, July 11. The company was downgraded on Thursday, April 21 by Evercore. As per Thursday, December 10, the company rating was downgraded by Morgan Stanley. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, August 20. Bernstein maintained Huntington Bancshares Incorporated (NASDAQ:HBAN) rating on Thursday, April 21. Bernstein has “Market Perform” rating and $12 price target. The rating was downgraded by FBR Capital to “Mkt Perform” on Tuesday, October 11. The firm earned “Buy” rating on Wednesday, April 6 by Sterne Agee CRT. The firm has “Outperform” rating by RBC Capital Markets given on Friday, January 22.

About 2.28M shares traded hands. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 23.62% since April 25, 2016 and is uptrending. It has outperformed by 17.61% the S&P500.

Analysts await Huntington Bancshares Incorporated (NASDAQ:HBAN) to report earnings on January, 19. They expect $0.22 earnings per share, 0.00% or $0.00 from last year’s $0.22 per share. HBAN’s profit will be $237.68 million for 14.14 P/E if the $0.22 EPS becomes a reality. After $0.22 actual earnings per share reported by Huntington Bancshares Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Insitutional Activity: The institutional sentiment increased to 2.19 in 2016 Q2. Its up 0.94, from 1.25 in 2016Q1. The ratio increased, as 26 funds sold all Huntington Bancshares Incorporated shares owned while 148 reduced positions. 61 funds bought stakes while 157 increased positions. They now own 597.98 million shares or 0.59% less from 601.54 million shares in 2016Q1.

Cleararc holds 19,421 shares or 0.03% of its portfolio. Cornerstone Advsrs accumulated 342 shares or 0% of the stock. Bb&T last reported 52,733 shares in the company. The Pennsylvania-based Berkshire Asset Mgmt Limited Liability Pa has invested 0.62% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Amalgamated Bankshares holds 0.06% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 109,061 shares. Carnegie Cap Asset Mgmt Ltd Liability Co last reported 19,221 shares in the company. Stephens Ar accumulated 197,396 shares or 0.08% of the stock. Nomura Asset Management Company reported 98,200 shares or 0.02% of all its holdings. Ig Investment Mngmt Limited reported 1.65 million shares or 0.06% of all its holdings. Ngam Limited Partnership accumulated 0.02% or 169,971 shares. Retirement Systems Of Alabama last reported 0.02% of its portfolio in the stock. Gideon Advsrs Inc has 2.13% invested in the company for 408,788 shares. Williams Jones And Ltd Liability Corporation has 0.03% invested in the company for 63,268 shares. Babson Capital Mgmt Ltd holds 0.02% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 85,181 shares. Parallax Volatility Advisers L P has 57,218 shares for 0% of their US portfolio.

Insider Transactions: Since August 22, 2016, the stock had 0 insider buys, and 5 selling transactions for $1.44 million net activity. $288,557 worth of shares were sold by STANUTZ NICHOLAS G on Friday, November 11. Anderson David S. also sold $106,161 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) shares. Pierce Sandra E. sold $615,895 worth of stock.

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $13.44 billion. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank , the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial services and products. It has a 17.34 P/E ratio. It operates through five divisions: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending.

According to Zacks Investment Research, “Huntington Bancshares is a multi-state bank holding company. Its subsidiaries conduct a full-service commercial and consumer banking business, engage in mortgage banking, lease financing, trust services, discount brokerage services, underwriting credit life and disability insurance, selling other insurance products, and issuing commercial paper guaranteed by Huntington, and providing other financial products and services.”

HBAN Company Profile

Huntington Bancshares Incorporated, incorporated on April 14, 1966, is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial services and products. It operates through five divisions: Retail and Business Banking, Commercial Banking, Automobile Finance and Commercial Real Estate, Regional Banking and The Huntington Private Client Group, and Home Lending. The Firm offers commercial and industrial loans, commercial real estate loans, automobile loans, home equity loans, residential mortgage loans and other consumer loans. The Firm offers demand deposits-noninterest-bearing, demand deposits-interest-bearing, money market deposits, savings and other domestic deposits, core certificates of deposit, other domestic time deposits of $250,000 or more, and brokered time deposits and negotiable certificate of deposits (CDs). The Company’s total loans and leases are approximately $50.3 billion and total deposits are approximately $55.2 billion.

Another recent and important Huntington Bancshares Incorporated (NASDAQ:HBAN) news was published by Seekingalpha.com which published an article titled: “Huntington Bancshares: Are We Back?” on November 22, 2016.

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