Allegheny Financial Group LTD Sells 1,093 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Allegheny Financial Group LTD lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 4.7% in the first quarter, Holdings Channel reports. The institutional investor owned 22,354 shares of the bank’s stock after selling 1,093 shares during the period. Allegheny Financial Group LTD’s holdings in Huntington Bancshares were worth $312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank bought a new position in Huntington Bancshares during the 3rd quarter valued at approximately $5,261,000. Massmutual Trust Co. FSB ADV increased its position in Huntington Bancshares by 8.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 136,961 shares of the bank’s stock valued at $1,911,000 after buying an additional 10,795 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock worth $83,124,000 after purchasing an additional 1,838,019 shares in the last quarter. Vest Financial LLC increased its holdings 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 worth $12,731,000 after purchasing an additional 141,410 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Huntington Bancshares by 715.0% in the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after purchasing an additional 3,729,974 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares in the company, valued at $5,241,562.40. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock worth $2,148,623 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded up $0.22 on Monday, hitting $13.76. 7,129,219 shares of the company traded hands, compared to its average volume of 17,241,635. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 5.37 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $13.32 and its 200-day moving average price is $13.18. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned $0.38 earnings per share. Equities analysts expect that Huntington Bancshares Incorporated will post 1.17 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a $0.155 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.51%. Huntington Bancshares’s payout ratio is 55.86%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group reduced their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.93.

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.