Huntington Bancshares (NASDAQ:HBAN) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Huntington Bancshares from “hold” to “strong sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $19.43.
• HBAN shares opened at $15.33, below their 50-day and 200-day moving averages of roughly $16.66, after trading between $14.82 and $19.45 over the past year.
• Huntington’s latest quarterly results met expectations with $0.39 in EPS and exceeded revenue estimates at $2.86 billion; institutional investors own 80.72% of the company, while an insider recently sold 27,971 shares.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday, Zacks reports.

Several other equities analysts also recently weighed in on HBAN. Truist Financial decreased their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Huntington Bancshares in a research note on Friday. Stephens cut their price objective on shares of Huntington Bancshares from $19.00 to $18.00 in a report on Tuesday, September 22nd. Wells Fargo & Company decreased their target price on shares of Huntington Bancshares from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 16th. Finally, DA Davidson lowered their target price on Huntington Bancshares from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.43.

Huntington Bancshares Stock Up 0.3%

NASDAQ HBAN opened at $15.33 on Monday. The business has a fifty day moving average price of $16.66 and a 200 day moving average price of $16.67. Huntington Bancshares has a one year low of $14.82 and a one year high of $19.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $30.97 billion, a P/E ratio of 11.88, a P/E/G ratio of 0.93 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Huntington Bancshares had a net margin of 16.64% and a return on equity of 11.19%. The company had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter in the previous year, the company posted $0.34 EPS. Huntington Bancshares has set its FY 2026 guidance at 1.900-1.930 EPS. Research analysts anticipate that Huntington Bancshares will post 1.55 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall Kowalski sold 27,971 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares in the company, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company's stock.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Huntington Bancshares in the second quarter worth approximately $3,134,426,000. Bank of America Corp DE acquired a new position in shares of Huntington Bancshares in the 2nd quarter valued at $256,772,000. Bank of New York Mellon Corp purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth $229,246,000. Legal & General Group Plc purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth $213,096,000. Finally, Deutsche Bank AG acquired a new stake in shares of Huntington Bancshares during the 2nd quarter worth about $129,338,000. Hedge funds and other institutional investors own 80.72% of the company's stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides consumer, small-business and commercial banking services through branch offices, digital banking channels and automated teller machines.

The company offers deposit accounts, residential and commercial mortgages, home equity lending, auto loans, personal lending, credit cards and other consumer financial products. Its business banking operations provide lending, treasury management, payment processing and capital markets services, while its wealth management and insurance businesses serve individuals, families and institutions.

Founded in 1866, Huntington has developed a banking franchise across the Midwest, with a presence in states including Ohio, Michigan, Pennsylvania, Indiana, West Virginia, Kentucky, Illinois and Wisconsin.

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