Are Huntington Bancshares (NASDAQ:HBAN) Shares Headed North? Bernstein Issues Upgrade

They presently have a $16.00 target price on the bank's stock. Jefferies downgraded the shares of HBAN in report on Monday, November 28 to "Hold" rating. At the time of writing, the First Call consensus price target for the company is $15.26. Barclays Public Limited Co holds 0.02% or 1.14 million shares. BidaskClub raised shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Wednesday, July 5th. The analysts, on average, are forecasting a $14.77 price target, but the stock is already up 34.45% from its recent lows. Piper Jaffray Companies raised shares of Huntington Bancshares from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $14.00 to $15.00 in a report on Friday, August 11th.

Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down -0.78% in the last session while performance was up 12.8% in the last five days. The current consensus recommendation provided by covering analysts is 2.20.

Shares of Prosperity Bancshares (NYSE:PB) opened at 60.00 on Friday. The company has a 50 day moving average price of $12.83 and a 200 day moving average price of $13.13. The stock has a market capitalization of $13.96 billion, a P/E ratio of 17.74 and a beta of 1.37.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, July 26th. The percentage of shares being held by the company management was 1% while institutional stake was 78.1%. Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. They expect $0.25 earnings per share, up 13.64 % or $0.03 from last year's $0.22 per share. Overall, the share price is down -3.18% so far this year.

WARNING: This article was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & global trademark and copyright laws. Chicago Partners Investment Group LLC purchased a new position in shares of Huntington Bancshares in the second quarter worth about $134,000.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be given a $0.08 dividend. This represents a $1.36 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, September 15th. Stratos Wealth Ptnrs Ltd invested 0.1% in Huntington Bancshares Incorporated (NASDAQ:HBAN).

In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 31st. The stock was acquired at an average cost of $13.10 per share, with a total value of $32,095.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Korea Invest Corporation accumulated 215,981 shares or 0.01% of the stock. The shares were sold at an average price of $12.71, for a total transaction of $203,360.00. Following the completion of the acquisition, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. In the last quarter, insiders sold 14,000 shares of company stock worth $864,950.

Other hedge funds also recently modified their holdings of the company. Of those insider trades, 11,237 shares of Huntington Bancshares Incorporated were purchased and 91,312 shares were sold. Foster & Motley Inc. now owns 10,504 shares of the bank's stock worth $142,000 after purchasing an additional 224 shares during the last quarter. Formidable Asset Management LLC lifted its position in shares of Huntington Bancshares by 0.6% during the first quarter. Envestnet Asset Management Inc. now owns 7,026 shares of the bank's stock worth $489,000 after purchasing an additional 40 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Huntington Bancshares by 129.0% during the first quarter. Remiker Richard also sold $88,419 worth of Huntington Bancshares Incorporated (NASDAQ:HBAN) shares. The bank reported $0.26 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.23 by $0.03. Camelot Portfolios Limited Liability Company has invested 0.25% in Huntington Bancshares Incorporated (NASDAQ:HBAN). Finally, Teacher Retirement System of Texas raised its position in shares of Prosperity Bancshares by 2.2% during the second quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank's stock valued at $216,000 after purchasing an additional 100 shares in the last quarter.

Huntington Bancshares Incorporated (Huntington) is a bank holding company. The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. Girard Prtnrs Limited stated it has 0.1% of its portfolio in Huntington Bancshares Incorporated (NASDAQ:HBAN).



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