Wealthfront Advisers LLC cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,448 shares of the bank’s stock after selling 27,874 shares during the period. Wealthfront Advisers LLC’s holdings in Huntington Bancshares were worth $7,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in HBAN. MV Capital Management Inc. acquired a new position in Huntington Bancshares during the fourth quarter worth $25,000. Palisade Asset Management LLC acquired a new stake in shares of Huntington Bancshares in the 3rd quarter worth $26,000. Centennial Bank AR acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth $28,000. DV Equities LLC purchased a new position in shares of Huntington Bancshares during the 4th quarter worth $38,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Huntington Bancshares by 403.1% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock worth $45,000 after acquiring an additional 2,092 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.
Insider Activity at Huntington Bancshares
In related news, EVP Marcy C. Hingst sold 10,568 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of Huntington Bancshares stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director owned 612,155 shares of the company’s stock, valued at $10,620,889.25. This trade represents a 26.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders bought 33,500 shares of company stock worth $617,542. Company insiders own 0.67% of the company’s stock.
Huntington Bancshares Stock Down 1.7%
Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the prior year, the company posted $0.34 earnings per share. Sell-side analysts expect that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.
Huntington Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares’s payout ratio is 47.69%.
Wall Street Analyst Weigh In
HBAN has been the subject of a number of analyst reports. Weiss Ratings raised shares of Huntington Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Royal Bank Of Canada lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. boosted their target price on shares of Huntington Bancshares from $18.50 to $19.50 and gave the company an “overweight” rating in a report on Monday, July 6th. Jefferies Financial Group cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating and dropped their price target for the company from $21.00 to $19.00 in a research note on Monday, July 6th. Finally, The Goldman Sachs Group cut their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.
Read Our Latest Research Report on HBAN
Huntington Bancshares Profile
Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.
Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.
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