Huntington Bancshares Incorporated (HBAN) is Downgraded by Robert W. Baird to Neutral, Price Target at $12

Huntington Bancshares Incorporated (HBAN) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $12. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on May 26, 2016.

Many Wall Street Analysts have commented on Huntington Bancshares Incorporated. Company shares were Reiterated by FBR Capital on Apr 21, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 11 from a previous price target of $9.50 .Huntington Bancshares Incorporated was Upgraded by Sterne Agee CRT to ” Buy” on Apr 6, 2016.

On the company’s financial health, Huntington Bancshares Incorporated reported $0.20 EPS for the quarter, based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus estimate of $0.20. The company had revenue of $754.00 million for the quarter, compared to analysts expectations of $751.94 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Huntington Bancshares Incorporated opened for trading at $10.41 and hit $10.64 on the upside on Wednesday, eventually ending the session at $10.62, with a gain of 2.31% or 0.24 points. The heightened volatility saw the trading volume jump to 93,95,634 shares. Company has a market cap of $8,461 M.

Investors should note that on Apr 20, 2016, Huntington Bancshares Incorporated announced a cash dividend of $0.0700. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jul 1, 2016.

In a different news, on May 24, 2016, David S. Anderson (EVP & Controller) sold 25,000 shares at $10.36 per share price. According to the SEC, on Mar 15, 2016, Stephen D Steinour (CEO) purchased 20,000 shares at $25.00 per share price. On Mar 15, 2016, John B Jr Gerlach (director) purchased 4,000 shares at $25.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Huntington Bancshares Incorporated (Huntington) is a diversified regional bank holding company. The Company operates through its subsidiary The Huntington National Bank (the Bank). It provides commercial small business consumer and mortgage banking services automobile financing equipment leasing investment management trust services brokerage services insurance programs and other financial products and services. It operates in five segments: Retail and Business Banking Commercial Banking Automobile Finance and Commercial Real Estate Regional Banking and The Huntington Private Client Group and Home Lending. Its loan portfolio includes commercial and industrial commercial real estate construction CRE automobile home equity residential mortgage and consumer loans/leases. The Bank has approximately 14 private client group offices and 715 branches including 404 in Ohio 43 in Indiana 179 in Michigan 31 in West Virginia 48 in Pennsylvania and 10 in Kentucky.

Huntington Bancshares Incorporated

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