Envestnet Asset Management Inc. Sells 773,805 Shares of Huntington Bancshares Incorporated $HBAN

Envestnet Asset Management Inc. trimmed its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,973,658 shares of the bank’s stock after selling 773,805 shares during the quarter. Envestnet Asset Management Inc. owned 0.27% of Huntington Bancshares worth $68,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Huntington Bancshares by 5.0% during the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock valued at $434,000 after acquiring an additional 1,366 shares during the last quarter. Woodline Partners LP increased its holdings in Huntington Bancshares by 40.8% during the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank’s stock valued at $1,844,000 after purchasing an additional 35,574 shares during the period. Ameritas Advisory Services LLC bought a new position in Huntington Bancshares during the 2nd quarter valued at approximately $66,000. Maryland State Retirement & Pension System lifted its holdings in Huntington Bancshares by 4.2% in the 2nd quarter. Maryland State Retirement & Pension System now owns 70,291 shares of the bank’s stock worth $1,178,000 after buying an additional 2,806 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Huntington Bancshares by 3.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 36,213 shares of the bank’s stock worth $607,000 after buying an additional 1,307 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Barclays lifted their price target on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Wall Street Zen lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. National Bankshares set a $21.00 target price on shares of Huntington Bancshares in a research report on Wednesday. Finally, Evercore started coverage on shares of Huntington Bancshares in a research report on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $20.48.

Insider Buying and Selling

In related news, insider Amit Dhingra sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider owned 155,634 shares of the company’s stock, valued at $2,879,229. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $18.00, for a total value of $230,976.00. Following the completion of the sale, the executive vice president directly owned 239,473 shares in the company, valued at $4,310,514. This trade represents a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 103,693 shares of company stock worth $1,693,220 over the last three months. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $19.27 on Monday. The company’s fifty day moving average price is $17.72 and its 200-day moving average price is $16.95. The stock has a market cap of $30.35 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.78 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.46.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the business earned $0.34 earnings per share. On average, equities analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s payout ratio is currently 44.60%.

Huntington Bancshares Company Profile

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.