Huntington Bancshares Underperforming Relative To Peers, Analyst Downgrades Stock
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Piper Sandler analyst R. Scott Siefers lowered Huntington Bancshares Incorporated (NASDAQ:HBAN) to Underweight from Neutral, lowering the price forecast to $11.5.
According to Siefers, the stock is in for a period of underperformance following a stronger start to the year.
Huntington Bancshares started the year on a solid note, highlighting a differentiated loan growth opportunity thanks to its SE expansion and specialty verticals.
The analyst writes that the net interest income (NII) trajectory seemed strong, with the net interest margin (NIM) expected to trough early in the year and increase pretty heavily after that.
However, things toned down for Huntington Bancshares, with …
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