MCF Advisors LLC Raises Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

MCF Advisors LLC increased its position in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 51.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,425 shares of the bank’s stock after acquiring an additional 1,506 shares during the quarter. MCF Advisors LLC’s holdings in Huntington Bancshares were worth $62,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Boston Partners increased its stake in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Norges Bank purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth $206,703,000. KBC Group NV boosted its holdings in shares of Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. Bank of Nova Scotia grew its position in shares of Huntington Bancshares by 641.5% in the fourth quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock valued at $35,301,000 after purchasing an additional 2,401,067 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Huntington Bancshares during the 3rd quarter valued at $20,004,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,829 shares of company stock valued at $2,148,623. 0.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Evercore ISI reduced their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.03.

Get Our Latest Report on Huntington Bancshares

Huntington Bancshares Stock Up 3.1 %

Shares of NASDAQ HBAN opened at $13.18 on Friday. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $14.30. The stock has a market capitalization of $19.10 billion, a P/E ratio of 11.87, a PEG ratio of 2.49 and a beta of 1.08. The firm’s 50 day simple moving average is $13.42 and its two-hundred day simple moving average is $13.15. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.70%. Huntington Bancshares’s payout ratio is currently 55.86%.

Huntington Bancshares Company Profile

(Free Report)

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.

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

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