Huntington Bancshares Incorporated $HBAN Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,932,939 shares of the bank’s stock after selling 193,698 shares during the period. Rhumbline Advisers’ holdings in Huntington Bancshares were worth $49,156,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HBAN. Family Legacy Financial Solutions LLC acquired a new stake in Huntington Bancshares during the 2nd quarter valued at approximately $25,000. MTM Investment Management LLC acquired a new stake in Huntington Bancshares in the second quarter valued at $25,000. Quarry LP lifted its position in shares of Huntington Bancshares by 73.0% during the first quarter. Quarry LP now owns 1,929 shares of the bank’s stock worth $29,000 after purchasing an additional 814 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Huntington Bancshares in the second quarter valued at about $30,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Huntington Bancshares by 74.7% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,794 shares of the bank’s stock valued at $42,000 after buying an additional 1,195 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In related news, Director John C. Inglis bought 6,506 shares of the stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $15.30 per share, with a total value of $99,541.80. Following the purchase, the director owned 89,831 shares in the company, valued at approximately $1,374,414.30. This represents a 7.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 41,100 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the sale, the executive vice president owned 299,361 shares in the company, valued at $5,388,498. This trade represents a 12.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,103 shares of company stock worth $1,833,558 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HBAN shares. Morgan Stanley raised their price objective on Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $20.00 price target (down from $21.00) on shares of Huntington Bancshares in a report on Monday, October 20th. Zacks Research upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Stephens lifted their target price on Huntington Bancshares from $18.00 to $19.00 in a research note on Friday, October 17th. Finally, Jefferies Financial Group dropped their price target on Huntington Bancshares from $20.00 to $19.00 in a research report on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.66.

Huntington Bancshares Stock Performance

HBAN opened at $15.91 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $16.20 and its 200-day moving average is $16.45. The stock has a market cap of $23.22 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, June 11th. The bank reported $0.28 EPS for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $469.00 million for the quarter. On average, analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

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

Huntington Bancshares 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.