Investors Research Corp Trims Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Investors Research Corp decreased its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,028 shares of the bank’s stock after selling 4,500 shares during the quarter. Investors Research Corp’s holdings in Huntington Bancshares were worth $750,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HBAN. Boston Partners boosted its position in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock worth $298,682,000 after purchasing an additional 2,363,988 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Huntington Bancshares by 194.8% during the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock valued at $42,226,000 after buying an additional 2,116,839 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank’s stock valued at $921,778,000 after buying an additional 1,522,767 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Huntington Bancshares by 531.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after acquiring an additional 968,331 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,699 shares of company stock valued at $757,356 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HBAN. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. DA Davidson upped their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a report on Monday, October 21st. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, Barclays boosted their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.26.

Huntington Bancshares Price Performance

NASDAQ:HBAN traded down $0.02 during trading hours on Thursday, reaching $17.45. 2,426,030 shares of the company were exchanged, compared to its average volume of 15,981,833. The stock’s 50-day moving average is $15.58 and its 200-day moving average is $14.41. Huntington Bancshares Incorporated has a twelve month low of $10.73 and a twelve month high of $17.97. The firm has a market cap of $25.35 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.55%. Huntington Bancshares’s payout ratio is currently 59.62%.

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.