Illinois Municipal Retirement Fund Sells 449,076 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Illinois Municipal Retirement Fund lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) by 91.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,554 shares of the bank’s stock after selling 449,076 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Huntington Bancshares were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HBAN. Core Alternative Capital bought a new stake in Huntington Bancshares during the 1st quarter worth about $25,000. Concord Wealth Partners grew its holdings in Huntington Bancshares by 72.0% during the 2nd quarter. Concord Wealth Partners now owns 2,135 shares of the bank’s stock worth $26,000 after acquiring an additional 894 shares during the last quarter. Evoke Wealth LLC grew its holdings in Huntington Bancshares by 142.6% during the 2nd quarter. Evoke Wealth LLC now owns 2,921 shares of the bank’s stock worth $35,000 after acquiring an additional 1,717 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in Huntington Bancshares by 62.5% during the 1st quarter. Tortoise Investment Management LLC now owns 2,600 shares of the bank’s stock worth $38,000 after acquiring an additional 1,000 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in shares of Huntington Bancshares in the 2nd quarter valued at about $39,000. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 11,618 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the transaction, the chief financial officer now directly owns 230,394 shares of the company’s stock, valued at approximately $3,308,457.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Zachary Jacob Wasserman sold 11,618 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the completion of the transaction, the chief financial officer now directly owns 230,394 shares of the company’s stock, valued at approximately $3,308,457.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 9,749 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $15.50, for a total transaction of $151,109.50. Following the completion of the transaction, the vice president now directly owns 214,477 shares of the company’s stock, valued at $3,324,393.50. The disclosure for this sale can be found here. Insiders sold 49,422 shares of company stock valued at $751,113 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $14.98 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $21.61 billion, a P/E ratio of 11.61 and a beta of 1.13. The company’s 50 day moving average price is $13.99 and its two-hundred day moving average price is $13.43. Huntington Bancshares Incorporated has a 52 week low of $11.67 and a 52 week high of $17.79.

Huntington Bancshares (NASDAQ:HBANGet Rating) last announced its earnings results on Friday, October 21st. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Huntington Bancshares had a net margin of 27.34% and a return on equity of 13.76%. During the same quarter in the prior year, the company posted $0.35 EPS. On average, analysts expect that Huntington Bancshares Incorporated will post 1.47 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 19th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, December 16th. This represents a $0.62 annualized dividend and a dividend yield of 4.14%. Huntington Bancshares’s dividend payout ratio is currently 48.06%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HBAN. Wedbush reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Huntington Bancshares in a research note on Wednesday, September 28th. Morgan Stanley raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, October 24th. Raymond James raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “strong-buy” rating in a research note on Monday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Huntington Bancshares from $16.50 to $15.50 and set a “hold” rating on the stock in a research note on Monday, September 12th. Finally, Stephens lowered shares of Huntington Bancshares from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $15.00 to $16.00 in a research note on Monday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.38.

Huntington Bancshares Profile

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Institutional Ownership by Quarter for Huntington Bancshares (NASDAQ:HBAN)

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