Rating Reporting: Will Jefferies Downgrade Harm Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Price Today?

November 28, 2016 - By Nellie Frank

Rating Reporting: Will Jefferies Downgrade Harm Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Price Today?

Huntington Bancshares Incorporated (NASDAQ:HBAN) Downgrade

Huntington Bancshares Incorporated (NASDAQ:HBAN) was cut by Jefferies from a Buy rating to a Hold rating in a an analyst note revealed to investors on Monday morning.

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 -9.03% below today’s ($12.4) stock price. Huntington Bancshares Incorporated has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Zacks downgraded the stock to “Hold” rating in Monday, September 7 report. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, August 20. Sterne Agee CRT upgraded the shares of HBAN in a report on Wednesday, April 6 to “Buy” rating. On Tuesday, November 22 the stock rating was upgraded by Macquarie Research to “Outperform”. The firm has “Hold” rating given on Thursday, April 21 by Evercore. Wedbush initiated Huntington Bancshares Incorporated (NASDAQ:HBAN) on Friday, October 7 with “Outperform” rating. The company was upgraded on Friday, August 28 by Guggenheim. The firm earned “Neutral” rating on Wednesday, January 27 by Macquarie Research. The stock of Huntington Bancshares Incorporated (NASDAQ:HBAN) has “Neutral” rating given on Thursday, May 26 by Robert W. Baird. The firm has “Mkt Perform” rating given on Tuesday, October 11 by FBR Capital.

About 5.11M 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 $237.56M for 14.09 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.

Caisse De Depot Et Placement Du Quebec holds 0% or 204,091 shares in its portfolio. Euclid Limited Liability Corporation holds 0% or 5,390 shares in its portfolio. Wesbanco Financial Bank Inc has 130,685 shares for 0.07% of their US portfolio. Firstmerit Bank N A Trustee holds 89,365 shares or 0.06% of its portfolio. M&R Mngmt Incorporated has 1,348 shares for 0% of their US portfolio. Boston last reported 0.39% of its portfolio in the stock. Mizuho Asset Mgmt Coltd holds 0.02% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 9,607 shares. Tiaa Cref Invest Management Limited Company last reported 0.02% of its portfolio in the stock. Westpac Banking Corporation holds 0% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 41,206 shares. Trexquant Inv L P, a Connecticut-based fund reported 378,500 shares. First Manhattan Communication last reported 0% of its portfolio in the stock. Pictet Asset Mgmt Limited reported 407,152 shares or 0.02% of all its holdings. Brandywine Glob Invest Management Llc holds 747,837 shares or 0.05% of its portfolio. Public Employees Retirement Association Of Colorado holds 941,199 shares or 0.07% of its portfolio. Invsts Asset Of Georgia Inc Ga Adv has 10,349 shares for 0.07% of their US portfolio.

Insider Transactions: Since August 22, 2016, the stock had 0 insider purchases, and 5 selling transactions for $1.44 million net activity. Anderson David S. sold $106,161 worth of stock. 35,350 shares were sold by STANUTZ NICHOLAS G, worth $340,819 on Monday, August 22. Another trade for 52,994 shares valued at $615,895 was made by Pierce Sandra E. on Friday, November 11.

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $13.39 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 17.29 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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