Insurance Technology Industry News

TMCNet:  Downgrade Alert for Huntington Bancshares (HBAN)

[February 15, 2013]

Downgrade Alert for Huntington Bancshares (HBAN)

Feb 15, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Huntington Bancshares (NASDAQ:HBAN) was downgraded from Buy to Neutral at Citigroup today. The stock closed yesterday at $7.10 on volume of 12.1 million shares, above average daily volume of 10.9 million. In the past 52 weeks, shares of Huntington Bancshares have traded between a low of $4.46 and a high of $7.70 and are now at $7.10, which is 59% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.2%.

Huntington Bancshares Incorporated is a multi-state bank holding company. The Company's subsidiaries provide full-service commercial and consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance service programs, and other financial products and services.

There is potential upside of 5.1% for shares of Huntington Bancshares based on a current price of $7.10 and an average consensus analyst price target of $7.46. The stock should find initial support at its 50-day moving average (MA) of $6.66 and further support at its 200-day MA of $6.52.

SmarTrend recommended that subscribers consider buying shares of Huntington Bancshares on January 3rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.60. Since that recommendation, shares of Huntington Bancshares have risen 8.6%. We continue to monitor HBAN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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