Rhumbline Advisers Reduces Holdings in Huntington Bancshares Incorporated $HBAN

Rhumbline Advisers lessened its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,932,939 shares of the bank’s stock after selling 193,698 shares during the period. Rhumbline Advisers owned 0.20% of Huntington Bancshares worth $49,156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Private Advisor Group LLC lifted its stake in Huntington Bancshares by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 45,463 shares of the bank’s stock valued at $682,000 after buying an additional 1,000 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Huntington Bancshares by 23.3% in the first quarter. IFP Advisors Inc now owns 5,552 shares of the bank’s stock worth $83,000 after acquiring an additional 1,049 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Huntington Bancshares in the first quarter valued at $445,000. Avantax Advisory Services Inc. boosted its stake in shares of Huntington Bancshares by 19.5% during the first quarter. Avantax Advisory Services Inc. now owns 33,698 shares of the bank’s stock valued at $506,000 after acquiring an additional 5,493 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Huntington Bancshares by 1.1% during the 1st quarter. Cetera Investment Advisers now owns 710,814 shares of the bank’s stock worth $10,669,000 after purchasing an additional 7,399 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Stock Up 0.2%

Shares of NASDAQ HBAN opened at $15.91 on Tuesday. The stock has a market capitalization of $23.22 billion, a PE ratio of 11.13, a P/E/G ratio of 0.66 and a beta of 1.01. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.89. The firm has a fifty day moving average of $16.20 and a 200-day moving average of $16.45. Huntington Bancshares Incorporated has a 52-week low of $11.91 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, June 11th. The bank reported $0.28 earnings per share for the quarter. The firm had revenue of $469.00 million for the quarter. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is presently 43.36%.

Insider Buying and Selling

In other news, insider Helga Houston sold 64,587 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider owned 534,640 shares of the company’s stock, valued at approximately $8,222,763.20. This trade represents a 10.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Inglis bought 6,506 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $15.30 per share, for a total transaction of $99,541.80. Following the acquisition, the director directly owned 89,831 shares in the company, valued at approximately $1,374,414.30. This represents a 7.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 112,103 shares of company stock valued at $1,833,558. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBAN. Keefe, Bruyette & Woods upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Stephens boosted their price objective on shares of Huntington Bancshares from $18.00 to $19.00 in a research report on Friday, October 17th. Zacks Research raised shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup lifted their target price on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.66.

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.