DAVENPORT & Co LLC Lowers Stock Position in Huntington Bancshares Incorporated $HBAN

DAVENPORT & Co LLC lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,101 shares of the bank’s stock after selling 81,777 shares during the period. DAVENPORT & Co LLC’s holdings in Huntington Bancshares were worth $2,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Palisade Asset Management LLC bought a new position in shares of Huntington Bancshares in the 3rd quarter worth about $26,000. South Plains Financial Inc. boosted its stake in Huntington Bancshares by 116.3% during the third quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after acquiring an additional 826 shares in the last quarter. Accredited Wealth Management LLC grew its holdings in Huntington Bancshares by 374.5% in the third quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in Huntington Bancshares in the third quarter worth about $31,000. Finally, AlphaCore Capital LLC bought a new position in shares of Huntington Bancshares during the third quarter valued at approximately $33,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Bancshares

In related news, insider Prashant Nateri sold 10,171 shares of Huntington Bancshares stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.50, for a total value of $157,650.50. Following the completion of the sale, the insider directly owned 83,819 shares in the company, valued at approximately $1,299,194.50. This trade represents a 10.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the transaction, the vice president directly owned 481,676 shares of the company’s stock, valued at approximately $7,360,009.28. This trade represents a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have bought 27,700 shares of company stock valued at $540,401 and have sold 108,986 shares valued at $1,785,958. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research report on Wednesday, January 7th. Stephens raised their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, December 18th. Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a research note on Friday, January 23rd. Argus boosted their target price on Huntington Bancshares from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, National Bank Financial set a $21.00 target price on Huntington Bancshares in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.63.

Huntington Bancshares Trading Down 2.3%

Shares of NASDAQ HBAN opened at $15.08 on Friday. The firm’s 50 day moving average price is $16.98 and its 200-day moving average price is $16.86. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $19.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $30.72 billion, a PE ratio of 10.85, a P/E/G ratio of 0.61 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share 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 the consensus estimate of $2.21 billion. Huntington Bancshares had a net margin of 17.71% and a return on equity of 11.98%. During the same period last year, the business earned $0.34 EPS. On average, equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.1%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 44.60%.

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.