Bank of Montreal Can Reduces Holdings in Huntington Bancshares Incorporated $HBAN

Bank of Montreal Can decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 11.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,357,085 shares of the bank’s stock after selling 436,895 shares during the period. Bank of Montreal Can owned approximately 0.23% of Huntington Bancshares worth $57,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Huntington Bancshares by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 176,980,819 shares of the bank’s stock worth $3,056,459,000 after purchasing an additional 680,601 shares during the period. Boston Partners boosted its position in shares of Huntington Bancshares by 4.8% during the second quarter. Boston Partners now owns 60,939,048 shares of the bank’s stock valued at $1,020,382,000 after buying an additional 2,776,429 shares during the period. Invesco Ltd. grew its stake in shares of Huntington Bancshares by 1.8% during the second quarter. Invesco Ltd. now owns 58,201,659 shares of the bank’s stock valued at $975,460,000 after buying an additional 1,015,066 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Huntington Bancshares by 1.7% during the second quarter. Geode Capital Management LLC now owns 39,450,879 shares of the bank’s stock valued at $658,541,000 after buying an additional 640,852 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Huntington Bancshares by 15.7% in the third quarter. Victory Capital Management Inc. now owns 34,230,988 shares of the bank’s stock worth $594,054,000 after buying an additional 4,640,302 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $18.93, for a total transaction of $330,423.15. Following the transaction, the vice president directly owned 42,398 shares in the company, valued at approximately $802,594.14. This trade represents a 29.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total transaction of $185,000.00. Following the transaction, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 27,700 shares of company stock worth $540,401 and have sold 33,285 shares worth $627,009. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HBAN has been the subject of a number of recent analyst reports. Wall Street Zen cut Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 target price on shares of Huntington Bancshares in a research note on Monday, January 12th. Wolfe Research reiterated an “outperform” rating and set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday, January 7th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th. Finally, UBS Group set a $21.00 price target on shares of Huntington Bancshares in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.78.

Huntington Bancshares Trading Down 1.0%

Shares of NASDAQ HBAN opened at $15.48 on Friday. Huntington Bancshares Incorporated has a twelve month low of $11.91 and a twelve month high of $19.45. The firm has a market cap of $31.42 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.63 and a beta of 0.95. The business has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $17.05. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same quarter in the prior year, the business posted $0.34 EPS. Analysts expect that Huntington Bancshares Incorporated will post 1.39 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 Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.0%. Huntington Bancshares’s payout ratio is currently 44.60%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.