Cambridge Investment Research Advisors Inc. Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 345,744 shares of the bank’s stock after selling 5,710 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Huntington Bancshares were worth $5,190,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Transce3nd LLC acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $48,000. Curat Global LLC acquired a new position in Huntington Bancshares in the first quarter valued at approximately $52,000. Loomis Sayles & Co. L P acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $70,000. IFP Advisors Inc boosted its holdings in Huntington Bancshares by 120.6% in the fourth quarter. IFP Advisors Inc now owns 4,503 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,462 shares in the last quarter. Finally, Briaud Financial Planning Inc acquired a new position in Huntington Bancshares in the fourth quarter valued at approximately $78,000. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 13,700 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $216,323.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 42,345 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $14.72, for a total value of $623,318.40. Following the completion of the transaction, the insider now owns 592,119 shares of the company’s stock, valued at approximately $8,715,991.68. This represents a 6.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,375 shares of company stock valued at $3,049,277. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen assumed coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a “buy” rating and a $20.00 price target for the company. Deutsche Bank Aktiengesellschaft raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a report on Thursday, April 24th. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Friday, March 7th. Truist Financial increased their price objective on Huntington Bancshares from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, June 13th. Finally, Cowen started coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.08.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $16.60 on Friday. Huntington Bancshares Incorporated has a 12 month low of $11.92 and a 12 month high of $18.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The business has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $15.67. The stock has a market capitalization of $24.25 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.92.

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

Huntington Bancshares declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the bank to reacquire up to 5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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 $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.33%.

Huntington Bancshares Profile

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.