ProShare Advisors LLC Trims Stake in Huntington Bancshares Incorporated $HBAN

ProShare Advisors LLC trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 382,997 shares of the bank’s stock after selling 24,928 shares during the quarter. ProShare Advisors LLC’s holdings in Huntington Bancshares were worth $6,419,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Huntington Bancshares by 274.9% during the 1st quarter. AQR Capital Management LLC now owns 10,758,669 shares of the bank’s stock worth $157,292,000 after acquiring an additional 7,889,004 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Huntington Bancshares by 8.7% in the 1st quarter. Invesco Ltd. now owns 57,186,593 shares of the bank’s stock valued at $858,371,000 after purchasing an additional 4,586,607 shares in the last quarter. Amundi lifted its position in shares of Huntington Bancshares by 26.2% in the 1st quarter. Amundi now owns 22,011,639 shares of the bank’s stock worth $330,395,000 after purchasing an additional 4,576,432 shares during the period. Nuveen LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at approximately $50,078,000. Finally, Deutsche Bank AG increased its holdings in Huntington Bancshares by 47.7% during the first quarter. Deutsche Bank AG now owns 8,870,393 shares of the bank’s stock valued at $133,145,000 after buying an additional 2,865,727 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HBAN. Jefferies Financial Group lowered their target price on Huntington Bancshares from $20.00 to $19.00 in a report on Monday, November 3rd. Keefe, Bruyette & Woods upped their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Morgan Stanley raised their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $20.00 price target (down from $21.00) on shares of Huntington Bancshares in a research report on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.66.

Insider Buying and Selling at Huntington Bancshares

In other news, Director John C. Inglis bought 6,506 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the purchase, the director directly owned 89,831 shares of the company’s stock, valued at approximately $1,374,414.30. The trade was a 7.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total value of $739,800.00. Following the sale, the executive vice president directly owned 299,361 shares of the company’s stock, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The SEC filing for this sale provides additional information. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $15.71 on Friday. Huntington Bancshares Incorporated has a fifty-two week low of $11.91 and a fifty-two week high of $18.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $22.93 billion, a PE ratio of 10.99, a P/E/G ratio of 0.66 and a beta of 1.01. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $16.39.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. The company had revenue of $469.00 million during the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. As a group, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is 43.36%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.