Huntington Bancshares (NASDAQ:HBAN) Cut to Sell at Wall Street Zen

Key Points

• Huntington Bancshares has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a more cautious outlook on the stock.
• Multiple analysts have varying opinions on the stock, with Raymond James Financial maintaining a "strong-buy" rating and setting a price target of $21.00, while the average target for the stock stands at $19.50.
• Despite the downgrade, 80.72% of Huntington Bancshares' stock is owned by institutional investors, showcasing continued interest among large investors.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

Several other equities analysts have also issued reports on HBAN. Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upped their price target on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Morgan Stanley upped their price target on Huntington Bancshares from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. DA Davidson upped their price target on Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Stephens upped their price target on Huntington Bancshares from $18.00 to $19.00 in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has an average rating of "Moderate Buy" and an average price target of $19.50.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $15.50 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $22.61 billion, a P/E ratio of 10.84, a P/E/G ratio of 0.73 and a beta of 0.96. The business's fifty day moving average is $17.08 and its two-hundred day moving average is $16.10. Huntington Bancshares has a 52 week low of $11.91 and a 52 week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The company had revenue of $469.00 million for the quarter. Huntington Bancshares had a return on equity of 11.81% and a net margin of 17.36%. Equities research analysts forecast that Huntington Bancshares will post 1.39 earnings per share for the current fiscal year.

Insider Activity

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares in the company, valued at $5,388,498. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the business. MTM Investment Management LLC bought a new stake in shares of Huntington Bancshares in the second quarter worth about $25,000. Family Legacy Financial Solutions LLC bought a new position in shares of Huntington Bancshares during the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of Huntington Bancshares during the second quarter worth about $30,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Huntington Bancshares during the first quarter worth about $29,000. Finally, Quarry LP grew its holdings in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank's stock worth $29,000 after buying an additional 814 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.

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