Private Advisor Group LLC Has $1.20 Million Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Private Advisor Group LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBANFree Report) by 11.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,973 shares of the bank’s stock after selling 11,117 shares during the period. Private Advisor Group LLC’s holdings in Huntington Bancshares were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Huntington Bancshares by 0.7% in the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after acquiring an additional 1,209,264 shares during the period. Boston Partners grew its stake in Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank acquired a new position in Huntington Bancshares in the fourth quarter valued at about $206,703,000. Dimensional Fund Advisors LP grew its stake in Huntington Bancshares by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock valued at $192,473,000 after acquiring an additional 765,070 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Huntington Bancshares by 3.1% in the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock valued at $103,276,000 after purchasing an additional 225,911 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $13.07 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock’s 50 day moving average price is $13.33 and its two-hundred day moving average price is $13.17. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.48 and a beta of 1.06. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $14.30.

Huntington Bancshares (NASDAQ:HBANGet Free Report) last posted its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Monday, June 17th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other news, insider Kendall A. Kowalski sold 15,711 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now owns 65,195 shares of the company’s stock, valued at $902,298.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kendall A. Kowalski sold 15,711 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now owns 65,195 shares of the company’s stock, valued at $902,298.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on HBAN shares. UBS Group cut their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Evercore ISI cut their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Morgan Stanley cut their price target on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Piper Sandler lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their price target for the company from $13.50 to $11.50 in a report on Friday, June 14th. Finally, Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $14.93.

Read Our Latest Report on Huntington Bancshares

About Huntington Bancshares

(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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