Rating Reporting: Huntington Bancshares Incorporated (NASDAQ:HBAN) Gets Lower Rating From Jefferies & Co. What Is The Stock Target?

November 28, 2016 - By Linda Rogers

Rating Reporting: Huntington Bancshares Incorporated (NASDAQ:HBAN) Gets Lower Rating From Jefferies & Co. What Is The Stock Target?

Huntington Bancshares Incorporated (NASDAQ:HBAN) Downgrade

In a an analyst note revealed to clients and investors on Monday, 28 November, Jefferies & Co downgraded shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) to a Hold rating from a Buy rating.

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 -8.44% below today’s ($12.32) stock price. Huntington Bancshares Incorporated has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Wednesday, January 27, the company rating was upgraded by Robert W. Baird. On Thursday, October 27 the stock rating was maintained by Wedbush with “Outperform”. The firm earned “Buy” rating on Wednesday, April 6 by Sterne Agee CRT. As per Wednesday, September 9, the company rating was initiated by BMO Capital Markets. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, August 20. The rating was downgraded by FBR Capital on Tuesday, October 11 to “Mkt Perform”. Bernstein maintained it with “Market Perform” rating and $12 target price in Thursday, April 21 report. The company was maintained on Friday, January 22 by FBR Capital. The rating was downgraded by Zacks on Monday, September 7 to “Hold”. Morgan Stanley downgraded Huntington Bancshares Incorporated (NASDAQ:HBAN) on Thursday, December 10 to “Equal-Weight” rating.

About 6.21M 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 $237.68M for 14.00 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 is positive, 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.

Pinebridge Invs Limited Partnership accumulated 1.07 million shares or 0.49% of the stock. Bb&T has 0.01% invested in the company for 52,733 shares. Twin Tree Ltd Partnership has invested 0% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Jpmorgan Chase Company owns 13.06 million shares or 0.03% of their US portfolio. Victory Cap Mngmt holds 2.91M shares or 0.1% of its portfolio. Liberty Mutual Grp Asset Management Inc holds 49,572 shares or 0.02% of its portfolio. The New Jersey-based Blackrock Inv Mngmt Ltd Liability Com has invested 0.02% in Huntington Bancshares Incorporated (NASDAQ:HBAN). State Treasurer State Of Michigan accumulated 0.02% or 277,486 shares. Credit Suisse Ag last reported 0.02% of its portfolio in the stock. Gateway Invest Advisers Ltd Limited Liability Company, a Ohio-based fund reported 89,894 shares. Old Mutual Customised Solutions (Proprietary) holds 0.04% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 17,600 shares. Geode Capital Management holds 0.03% or 6.89M shares in its portfolio. Moreover, Amp Cap has 0.01% invested in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 215,015 shares. Korea Investment Corp has 358,700 shares for 0.02% of their US portfolio. Massachusetts Fincl Co Ma holds 0.03% or 5.85 million shares in its portfolio.

Insider Transactions: Since August 22, 2016, the stock had 0 buys, and 5 selling transactions for $1.44 million net activity. Anderson David S. had sold 9,006 shares worth $88,470. $340,819 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) was sold by STANUTZ NICHOLAS G. 52,994 shares were sold by Pierce Sandra E., worth $615,895.

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $13.32 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 17.19 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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