Huntington Bancshares Incorporated $HBAN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.0% in the third quarter, HoldingsChannel reports. The fund owned 8,827,323 shares of the bank’s stock after selling 91,243 shares during the period. Bank of New York Mellon Corp’s holdings in Huntington Bancshares were worth $152,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. LifeWealth Investments LLC increased its holdings in shares of Huntington Bancshares by 2.3% during the 2nd quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock valued at $478,000 after purchasing an additional 632 shares in the last quarter. Parcion Private Wealth LLC increased its holdings in Huntington Bancshares by 6.2% in the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after buying an additional 648 shares in the last quarter. Strategic Planning Inc. raised its position in shares of Huntington Bancshares by 0.3% in the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock worth $3,442,000 after acquiring an additional 670 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Huntington Bancshares by 1.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank’s stock worth $1,263,000 after acquiring an additional 758 shares in the last quarter. Finally, Almanack Investment Partners LLC. grew its position in shares of Huntington Bancshares by 1.1% during the 2nd quarter. Almanack Investment Partners LLC. now owns 69,699 shares of the bank’s stock valued at $1,168,000 after acquiring an additional 768 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.48 on Friday. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.91. The firm has a market capitalization of $27.53 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.70 and a beta of 0.95. The company has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $16.88. 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 posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

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. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares’s dividend payout ratio is 44.60%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HBAN. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 6th. Jefferies Financial Group boosted their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.26.

Insider Transactions at Huntington Bancshares

In related news, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares 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 transaction, the insider owned 155,634 shares in the company, valued at approximately $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 64,587 shares of the company’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 completion of the sale, the insider owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. The trade was a 10.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 97,863 shares of company stock valued at $1,581,634. 0.89% of the stock is currently owned by company insiders.

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.