Silvercrest Asset Management Group LLC Decreases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Silvercrest Asset Management Group LLC reduced its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,061 shares of the bank’s stock after selling 1,240 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Huntington Bancshares were worth $1,774,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Creative Capital Management Investments LLC boosted its stake in shares of Huntington Bancshares by 17,533.3% in the fourth quarter. Creative Capital Management Investments LLC now owns 1,587 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,578 shares during the period. Y.D. More Investments Ltd boosted its stake in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $37,000. Transce3nd LLC purchased a new position in shares of Huntington Bancshares in the fourth quarter valued at $48,000. Finally, Asset Dedication LLC boosted its stake in shares of Huntington Bancshares by 70.0% in the fourth quarter. Asset Dedication LLC now owns 3,061 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,260 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the sale, the vice president now directly owns 47,950 shares of the company’s stock, valued at $731,237.50. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brantley J. Standridge sold 70,417 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $13.69, for a total transaction of $964,008.73. Following the completion of the sale, the vice president now directly owns 326,456 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on HBAN. Morgan Stanley cut their price target on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Citigroup cut their price target on shares of Huntington Bancshares from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Robert W. Baird raised shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Friday, March 7th. Baird R W raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Argus set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.58.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $16.12 on Tuesday. Huntington Bancshares Incorporated has a twelve month low of $11.92 and a twelve month high of $18.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $14.49 and a 200-day moving average of $15.98. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Thursday, April 17th. The bank reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. 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 firm posted $0.27 EPS. Analysts forecast that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, June 17th. Huntington Bancshares’s dividend payout ratio is presently 47.33%.

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.