Should Investors Head For The Exit? Morgan Stanley Downgrades Huntington Bancshares Incorporated (NASDAQ:HBAN)


Huntington Bancshares Incorporated (NASDAQ:HBAN) Receives a Downgrade

Huntington Bancshares Incorporated (NASDAQ:HBAN) shares were downgraded by Morgan Stanley to a “Equal-weight” rating in a recent research report sent to clients and investors on Thursday morning.

From a total of 30 analysts covering Huntington Bancshares Incorporated (NASDAQ:HBAN) stock, 11 rate it a ”Buy”, 2 a “Sell”, and 17 a ”Hold”. This means that 37% of the ratings are positive. The highest target price is $13 while the lowest target price is $10. The mean of all analyst targets is $12.15 with a 6.28% above today’s ($11.14) stock price. Huntington Bancshares Incorporated was the topic of 15 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray initiated shares on November 24 with “Neutral” rating. Zacks downgraded HBAN stock in a recent report from September 7 to “Hold” rating.

Approximately 5.27 million shares of stock traded hands. Huntington Bancshares Incorporated (NASDAQ:HBAN) has risen 1.37% since May 7, 2015 and is uptrending. It has outperformed by 3.31% the S&P500.

The overall sentiment of institutions has increased to 1.19 in Q2 2015. Its up 0.04, from 1.15 in 2015Q2. The ratio improved, as 52 institutions have sold all the shares of Huntington Bancshares Incorporated that they owned while 147 funds have taken shares off the table. 45 funds have purchased shares for the first time while 191 added to their positions. These institutions now hold 592.81 million shares or 4.96% more than the 564.81 million shares they owned in 2015Q2.

The Fund Spero currently is holding shares equating to 3.19% of its total portfolio in Huntington Bancshares Incorporated representing a total of 222,471 shares. Another fund,Wespac Advisors Llc, is holding a total of 154,369 shares equating to 2.87% of their holdings. Additionally, Brinker Capital Inc has a 2.72 million share stake in Huntington Bancshares Incorporated which represents 2.65% of their total portfolio. The Fund, Macnealy Hoover Investment Management Inc, based out of Ohio, has also built up a stake in the stock, which represents a total of 2.14% of their total portfolio. Finally Lumbard & Kellner Llc, a fund which is based in the state of New Hampshire reported a total holdings of 224,540 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 24, 2015, shareholders of Huntington Bancshares Incorporated have witnessed 0 insider purchases, and a total of 2 insider sales equating to a net activity of approximately $245,613 . Stanutz Nicholas G sold 9,850 shares worth approximately $107,041. Anderson David S. sold 28,309 shares worth approximately $318,193. Heller Paul G bought 457 shares worth approximately $4,942. Steinour Stephen D bought 10,000 shares worth approximately $107,874. The company insider Remiker Richard bought 1,000 shares worth $10,784.

Huntington Bancshares Incorporated is a diversified regional bank holding company. The company has a market cap of $8.82 billion. The Firm operates through its subsidiary, The Huntington National Bank (the Bank). It has 14.16 P/E ratio. 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 services and products.

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.” Get a free copy of the Zacks research report on Huntington Bancshares Incorporated (HBAN).