Huntington Bancshares (NASDAQ:HBAN) Lowered to "Strong Sell" Rating by Barclays

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) was downgraded by Barclays from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on HBAN. National Bank Financial set a $21.00 price target on shares of Huntington Bancshares in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 7th. The Goldman Sachs Group lowered their price objective on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Evercore lowered their price objective on shares of Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Huntington Bancshares from $20.00 to $19.50 and set a "market perform" rating on the stock in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.13.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $16.97 on Monday. The firm's 50 day moving average is $16.36 and its two-hundred day moving average is $16.72. Huntington Bancshares has a 52 week low of $13.60 and a 52 week high of $19.45. The firm has a market capitalization of $34.57 billion, a P/E ratio of 12.21, a PEG ratio of 0.74 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business posted $0.34 EPS. Analysts anticipate that Huntington Bancshares will post 1.61 earnings per share for the current year.

Insider Buying and Selling

In other Huntington Bancshares news, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the completion of the acquisition, the director owned 943,341 shares of the company's stock, valued at approximately $16,800,903.21. This represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total transaction of $330,423.15. Following the sale, the vice president owned 42,398 shares of the company's stock, valued at $802,594.14. The trade was a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 27,700 shares of company stock worth $540,401 and have sold 98,986 shares worth $1,600,958. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

Large investors have recently added to or reduced their stakes in the business. Altrius Capital Management Inc acquired a new position in Huntington Bancshares in the 3rd quarter worth approximately $4,894,000. Vanguard Group Inc. boosted its stake in Huntington Bancshares by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank's stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the period. Midwest Trust Co boosted its stake in Huntington Bancshares by 12.7% in the 3rd quarter. Midwest Trust Co now owns 1,510,977 shares of the bank's stock worth $26,095,000 after purchasing an additional 170,240 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Huntington Bancshares in the 3rd quarter worth approximately $3,746,000. Finally, JPMorgan Chase & Co. boosted its stake in Huntington Bancshares by 3.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,238,142 shares of the bank's stock worth $159,543,000 after purchasing an additional 314,544 shares during the period. 80.72% of the stock is currently owned by institutional investors.

About Huntington Bancshares

Huntington Bancshares Incorporated NASDAQ: HBAN is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company's operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington's product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.