Huntington Bancshares Incorporated (NASDAQ:HBAN) Stock Position Lessened by Spirepoint Private Client LLC

Spirepoint Private Client LLC reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,987 shares of the bank’s stock after selling 4,866 shares during the quarter. Spirepoint Private Client LLC’s holdings in Huntington Bancshares were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Midwest Capital Advisors LLC bought a new stake in shares of Huntington Bancshares during the 4th quarter worth about $37,000. Transce3nd LLC acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $48,000. Curat Global LLC bought a new stake in Huntington Bancshares during the first quarter worth approximately $52,000. Venturi Wealth Management LLC lifted its position in Huntington Bancshares by 27.2% in the fourth quarter. Venturi Wealth Management LLC now owns 3,279 shares of the bank’s stock worth $53,000 after purchasing an additional 702 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Huntington Bancshares during the 4th quarter valued at $70,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $14.36, for a total value of $848,101.60. Following the completion of the sale, the chief financial officer now owns 277,348 shares of the company’s stock, valued at approximately $3,982,717.28. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $13.69, for a total value of $964,008.73. Following the transaction, the vice president now owns 326,456 shares in the company, valued at approximately $4,469,182.64. This trade represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,096 shares of company stock valued at $3,060,286 in the last three months. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Stock Performance

HBAN stock opened at $16.07 on Tuesday. The firm has a 50 day simple moving average of $15.27 and a 200 day simple moving average of $15.67. Huntington Bancshares Incorporated has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a market cap of $23.47 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.94% and a return on equity of 11.44%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.27 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares announced that its Board of Directors has initiated a share repurchase program on Thursday, April 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the bank to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s payout ratio is currently 47.33%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HBAN shares. TD Cowen assumed coverage on Huntington Bancshares in a report on Thursday, May 15th. They issued a “buy” rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a report on Thursday, April 24th. Stephens reaffirmed an “equal weight” rating and issued a $16.50 price objective on shares of Huntington Bancshares in a research note on Monday, April 21st. Morgan Stanley cut their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $18.00 price target (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $18.08.

About Huntington Bancshares

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.