Follow The Ratings: Wedbush Maintains a Outperform Rating on Huntington Banc (NASDAQ:HBAN) and $14 Target

November 30, 2016 - By Nellie Frank

Follow The Ratings: Wedbush Maintains a Outperform Rating on Huntington Banc (NASDAQ:HBAN) and $14 Target

Huntington Banc (NASDAQ:HBAN) Rating

In an analyst note revealed to investors on today, Wedbush maintained their Outperform rating on Huntington Banc (NASDAQ:HBAN)‘s stock. The price target would indicate a potential upside of 14.01% from company’s previous stock close.

Huntington Bancshares Incorporated (NASDAQ:HBAN) Ratings Coverage

Out of 20 analysts covering Huntington Bancshares Incorporated (NASDAQ:HBAN), 7 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 35% are positive. $13 is the highest target while $9.50 is the lowest. The $11.28 average target is -8.14% below today’s ($12.28) stock price. Huntington Bancshares Incorporated has been the topic of 38 analyst reports since August 6, 2015 according to StockzIntelligence Inc. FBR Capital downgraded the stock to “Mkt Perform” rating in Tuesday, October 11 report. Robert W. Baird downgraded the stock to “Neutral” rating in Thursday, May 26 report. Guggenheim upgraded Huntington Bancshares Incorporated (NASDAQ:HBAN) on Friday, August 28 to “Buy” rating. As per Wednesday, January 27, the company rating was upgraded by Macquarie Research. The firm has “Hold” rating given on Thursday, April 21 by Evercore. The firm earned “Neutral” rating on Tuesday, November 24 by Piper Jaffray. The rating was maintained by Wedbush with “Outperform” on Thursday, October 27. The firm has “Neutral” rating given on Thursday, August 20 by Sterne Agee CRT. Robert W. Baird upgraded Huntington Bancshares Incorporated (NASDAQ:HBAN) rating on Wednesday, January 27. Robert W. Baird has “Outperform” rating and $12 price target. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, January 22 report.

The stock increased 0.16% or $0.02 during the last trading session, hitting $12.28. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 19.57% since April 27, 2016 and is uptrending. It has outperformed by 14.34% 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 $232.90 million for 13.95 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 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.

Westpac Corporation last reported 0% of its portfolio in the stock. First Heartland Consultants Incorporated accumulated 30,355 shares or 0.03% of the stock. Girard Prtn Ltd owns 27,240 shares or 0.09% of their US portfolio. Employees Retirement Sys Of Texas holds 80,000 shares or 0.01% of its portfolio. Cohen & Steers holds 708,500 shares or 0.02% of its portfolio. Farmers Merchants Inc has invested 0% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Apg Asset Management Nv has invested 0% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN). Raymond James And Associates accumulated 0.03% or 1.23M shares. The Ohio-based Firstmerit National Bank & Trust N A Trustee has invested 0.06% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Budros Ruhlin & Roe Incorporated has 0.08% invested in the company for 27,056 shares. Pictet Asset Management, a United Kingdom-based fund reported 407,152 shares. Cetera Limited Liability Co, a Colorado-based fund reported 34,724 shares. Highland Mgmt Lp holds 0.16% or 443,000 shares in its portfolio. Cibc Asset Mngmt last reported 95,038 shares in the company. Jane Street Grp Ltd Liability Co holds 0.01% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN) for 126,194 shares.

Insider Transactions: Since August 22, 2016, the stock had 0 insider buys, and 5 insider sales for $1.44 million net activity. Anderson David S. sold $106,161 worth of stock or 10,011 shares. $340,819 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) was sold by STANUTZ NICHOLAS G. Shares for $615,895 were sold by Pierce Sandra E..

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $13.00 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 17.12 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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