Noteworthy Rating Filing: Jefferies Reports Downgrade of Huntington Banc (HBAN) from “Buy” to “Hold” Rating

November 28, 2016 - By Dolores Ford

Noteworthy Rating Filing: Jefferies Reports Downgrade of Huntington Banc (HBAN) from

Huntington Banc (HBAN) Downgrade

In a analysts note published on Monday, 28 November, Jefferies stated it was downgrading Huntington Banc (HBAN) stock rating from a “Buy” to a “Hold”.

Huntington Bancshares Incorporated (NASDAQ:HBAN) Ratings Coverage

Out of 4 analysts covering Huntington Banc (HBAN), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $12.0 is the highest target while $11.5 is the lowest. The $11.75 average target is -5.09% below today’s ($12.38) stock price. Huntington Banc has been the topic of 4 analyst reports since September 28, 2016 according to StockzIntelligence Inc. The firm earned “Mkt Perform” rating on Tuesday, October 11 by FBR Capital. The rating was initiated by Wedbush on Friday, October 7 with “Outperform”. Macquarie Research upgraded the shares of HBAN in a report on Tuesday, November 22 to “Outperform” rating. On Wednesday, September 28 the stock rating was upgraded by Deutsche Bank to “Buy”.

About 3.09 million shares traded hands. Huntington Bancshares Incorporated (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 EPS, 0.00% or $0.00 from last year’s $0.22 per share. HBAN’s profit will be $237.59 million for 14.07 P/E if the $0.22 EPS becomes a reality. After $0.22 actual EPS 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 Q2 2016. Its up 0.94, from 1.25 in 2016Q1. The ratio improved, 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.

American Group Inc holds 0% or 329,165 shares in its portfolio. The Maryland-based Price T Rowe Assoc Md has invested 0% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Duncker Streett Co Inc last reported 241 shares in the company. The British Columbia – Canada-based British Columbia Invest Mngmt Corporation has invested 0.04% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Pinebridge Invs L P accumulated 0.49% or 1.07M shares. Automobile Association accumulated 245,730 shares or 0.01% of the stock. The Pennsylvania-based Jfs Wealth Ltd Liability Corp has invested 0.01% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Checchi Cap Advisers Limited Liability Corp holds 0.01% or 9,754 shares in its portfolio. Fmr Ltd holds 65.95 million shares or 0.08% of its portfolio. Blackrock Group Inc Ltd holds 6.01 million shares or 0.03% of its portfolio. Pub Sector Pension Investment Board holds 151,457 shares or 0.01% of its portfolio. Wealthtrust Fairport Llc holds 0.02% or 15,599 shares in its portfolio. The Pennsylvania-based Girard Partners Ltd has invested 0.09% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Deroy And Devereaux Private Counsel has invested 1.61% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Gam Holding Ag last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 22, 2016, the stock had 0 insider buys, and 5 sales for $1.44 million net activity. 10,011 shares were sold by Anderson David S., worth $106,161. 52,994 Huntington Bancshares Incorporated (NASDAQ:HBAN) shares with value of $615,895 were sold by Pierce Sandra E.. STANUTZ NICHOLAS G had sold 25,000 shares worth $288,557.

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $13.37 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 17.26 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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