XM does not provide services to residents of the United States of America.

Huntington Bancshares dips after Piper Sandler downgrades to 'underweight'

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>BUZZ-Huntington Bancshares dips after Piper Sandler downgrades to 'underweight'</title></head><body>

** Shares of regional lender Huntington Bancshares HBAN.O fall 1.8% to $12.12 premarket

** Piper Sandler downgrades HBAN to "underweight" rating from "neutral"; cuts PT to $11.50 from $13.50, a 6.8% downside to stock's last close

** Stock is in for a period of underperformance following a stronger start to the year, brokerage says

** Piper Sandler says HBAN entered 2024 with one of the more compelling stories in the regional space, but those positives have taken a step back as the year progressed

** Adds that HBAN's differentiated story was its loan growth opportunity given its southeast U.S. expansion, plus the net interest income trajectory seemed strong

** HBAN on Monday tempered its outlook for annual NII as it expects somewhat higher funding costs apart from dialing down its loan growth outlook

** Thirteen of 22 brokerages rate the stock "buy" or higher, eight "hold" and one "sell"; their median PT is $15.25 - LSEG

** As of last close, HBAN shares were down 3% YTD

Reporting by Arasu Kannagi Basil in Bengaluru


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.