Texas Permanent School Fund Corp Sells 51,794 Shares of Huntington Bancshares Incorporated $HBAN

Texas Permanent School Fund Corp lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 33.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,562 shares of the bank’s stock after selling 51,794 shares during the period. Texas Permanent School Fund Corp’s holdings in Huntington Bancshares were worth $1,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MTM Investment Management LLC acquired a new position in shares of Huntington Bancshares during the second quarter valued at about $25,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Huntington Bancshares in the 2nd quarter valued at about $25,000. Quarry LP increased its position in Huntington Bancshares by 73.0% in the 1st quarter. Quarry LP now owns 1,929 shares of the bank’s stock valued at $29,000 after buying an additional 814 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Huntington Bancshares in the 2nd quarter valued at about $30,000. Finally, Truvestments Capital LLC raised its stake in Huntington Bancshares by 1,257.8% during the 1st quarter. Truvestments Capital LLC now owns 2,960 shares of the bank’s stock worth $44,000 after buying an additional 2,742 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Activity

In other Huntington Bancshares news, Director John C. Inglis acquired 6,506 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $15.30 per share, with a total value of $99,541.80. Following the completion of the transaction, the director owned 89,831 shares in the company, valued at approximately $1,374,414.30. This trade represents a 7.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the sale, the insider directly owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This represents a 10.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 87,863 shares of company stock worth $1,396,634 in the last quarter. 0.89% of the stock is owned by corporate insiders.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.92 on Tuesday. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.03. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The stock has a market cap of $26.15 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.67 and a beta of 0.96. The stock’s fifty day simple moving average is $16.24 and its two-hundred day simple moving average is $16.65.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Monday, December 1st. The bank reported $0.67 EPS for the quarter. Huntington Bancshares had a net margin of 18.06% and a return on equity of 12.14%. The company had revenue of $580.00 million during the quarter. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 43.36%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Huntington Bancshares in a report on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating and issued a $20.00 price target (down previously from $21.00) on shares of Huntington Bancshares in a research report on Monday, October 20th. JPMorgan Chase & Co. upped their price objective on shares of Huntington Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, October 10th. Finally, Morgan Stanley raised their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.92.

Huntington Bancshares 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.