Confluence Wealth Services Inc. Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Confluence Wealth Services Inc. trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,884 shares of the bank’s stock after selling 1,014 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Huntington Bancshares were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HBAN. California Public Employees Retirement System increased its position in shares of Huntington Bancshares by 2.3% during the third quarter. California Public Employees Retirement System now owns 2,794,810 shares of the bank’s stock worth $29,066,000 after purchasing an additional 62,674 shares in the last quarter. Comerica Bank purchased a new stake in Huntington Bancshares in the third quarter valued at $5,261,000. Vest Financial LLC lifted its stake in shares of Huntington Bancshares by 16.5% in the 4th quarter. Vest Financial LLC now owns 1,000,872 shares of the bank’s stock valued at $12,731,000 after purchasing an additional 141,410 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Huntington Bancshares by 43.4% during the 4th quarter. Lindbrook Capital LLC now owns 4,530 shares of the bank’s stock worth $58,000 after purchasing an additional 1,371 shares during the period. Finally, Bank of Nova Scotia increased its position in shares of Huntington Bancshares by 199.6% during the 3rd quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after purchasing an additional 249,356 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Down 0.7 %

Huntington Bancshares stock traded down $0.10 during trading on Tuesday, reaching $13.47. The stock had a trading volume of 15,679,438 shares, compared to its average volume of 17,599,072. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $14.07. The business has a 50 day moving average price of $13.38 and a 200 day moving average price of $12.31. 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 market cap of $19.51 billion, a PE ratio of 12.14, a P/E/G ratio of 2.50 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) 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 analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the previous year, the company earned $0.38 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.60%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Transactions at Huntington Bancshares

In related news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kendall A. Kowalski sold 15,948 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the transaction, the insider now owns 21,102 shares of the company’s stock, valued at approximately $284,243.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,489 shares of company stock valued at $2,286,999. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Evercore ISI upped their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Finally, Royal Bank of Canada increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Company 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.