Jefferies analyst David Chiaverini downgraded Huntington Bancshares (HBAN) from Buy to Hold.
The analyst lowered the price target to $19.00 from $21.00.
Chiaverini cited persistent M&A integration challenges and limited visibility into deposit costs.
Uncertainty regarding net interest margin trends also contributed to the rating change.
The bank’s strategy prioritizing loan profitability over volume reportedly weakens a key bull thesis for the stock.
Huntington Bancshares shares declined 0.7% in premarket trading following the news.
The announcement arrives just before the start of the bank earnings season.