SG Americas Securities LLC Trims Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

SG Americas Securities LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 88.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,452 shares of the bank’s stock after selling 464,245 shares during the quarter. SG Americas Securities LLC’s holdings in Huntington Bancshares were worth $907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in Huntington Bancshares during the fourth quarter worth about $37,000. Transce3nd LLC bought a new stake in Huntington Bancshares during the fourth quarter worth about $48,000. Curat Global LLC bought a new stake in Huntington Bancshares during the first quarter worth about $52,000. Venturi Wealth Management LLC boosted its stake in Huntington Bancshares by 27.2% during the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after acquiring an additional 702 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in Huntington Bancshares during the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.6%

Shares of Huntington Bancshares stock opened at $15.73 on Thursday. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92. The company’s 50 day moving average is $15.10 and its 200 day moving average is $15.73. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.94%. Huntington Bancshares’s dividend payout ratio is currently 47.33%.

Huntington Bancshares announced that its Board of Directors has initiated a share buyback program on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HBAN shares. JPMorgan Chase & Co. dropped their price objective on shares of Huntington Bancshares from $18.50 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Argus set a $17.00 price objective on shares of Huntington Bancshares in a research note on Friday, April 25th. Stephens reiterated an “equal weight” rating and issued a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. Cowen initiated coverage on shares of Huntington Bancshares in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. Finally, Morgan Stanley dropped their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.08.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 3,521 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total transaction of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares of the company’s stock, valued at approximately $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the completion of the sale, the executive vice president now directly owns 337,879 shares of the company’s stock, valued at approximately $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,617 shares of company stock valued at $3,113,982. Insiders own 0.89% of the company’s stock.

About Huntington Bancshares

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.