Bahl & Gaynor Inc. Reduces Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bahl & Gaynor Inc. trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 48.2% during the fourth quarter, HoldingsChannel reports. The firm owned 429,273 shares of the bank’s stock after selling 399,226 shares during the period. Bahl & Gaynor Inc.’s holdings in Huntington Bancshares were worth $5,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HBAN. Boston Partners boosted its stake in Huntington Bancshares by 33.0% during the third quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after buying an additional 7,271,405 shares during the last quarter. Victory Capital Management Inc. increased its position in Huntington Bancshares by 23.7% during the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after purchasing an additional 3,438,552 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Huntington Bancshares in the 3rd quarter valued at about $20,004,000. AQR Capital Management LLC grew its stake in shares of Huntington Bancshares by 1,652.2% in the 3rd quarter. AQR Capital Management LLC now owns 1,806,333 shares of the bank’s stock valued at $18,786,000 after buying an additional 1,703,245 shares during the period. Finally, Barclays PLC increased its holdings in shares of Huntington Bancshares by 31.6% during the 3rd quarter. Barclays PLC now owns 5,395,974 shares of the bank’s stock worth $56,117,000 after buying an additional 1,296,978 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Huntington Bancshares

In related news, insider Kendall A. Kowalski sold 15,948 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the transaction, the insider now owns 21,102 shares in the company, valued at approximately $284,243.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 15,948 shares of Huntington Bancshares stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total value of $214,819.56. Following the transaction, the insider now directly owns 21,102 shares in the company, valued at $284,243.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,189 shares of company stock worth $2,664,978. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

HBAN has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Stock Down 0.2 %

HBAN traded down $0.03 on Friday, reaching $13.55. The company’s stock had a trading volume of 12,209,141 shares, compared to its average volume of 17,717,398. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.53 and a beta of 1.11. Huntington Bancshares Incorporated has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $13.36 and a two-hundred day moving average of $12.26.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, analysts forecast that Huntington Bancshares Incorporated will post 1.22 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.