NEW YORK (TheStreet) -- Shares of Huntington Bancshares Inc. (HBAN) are down -2.26% to $9.10 on Thursday morning following a ratings downgrade to "outperform" from "strong buy" at Raymond James Financial (RJF).
The firm said it changed the regional bank holding company's rating due to a lack of near term catalysts.
Raymond James also lowered its price target for the company to $10.50 from $12.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
- Compared to its closing price of one year ago, HBAN's share price has jumped by 26.44%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, HBAN should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- The gross profit margin for HUNTINGTON BANCSHARES is currently very high, coming in at 91.14%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 22.02% significantly outperformed against the industry average.
- Regardless of the drop in revenue, the company managed to outperform against the industry average of 12.1%. Since the same quarter one year prior, revenues slightly dropped by 7.8%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
- The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, HUNTINGTON BANCSHARES has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- You can view the full analysis from the report here: HBAN Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV