Carnegie Investment Counsel Grows Stock Position in Huntington Bancshares Incorporated $HBAN

Carnegie Investment Counsel lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.9% during the first quarter, HoldingsChannel reports. The firm owned 580,541 shares of the bank’s stock after purchasing an additional 32,442 shares during the quarter. Carnegie Investment Counsel’s holdings in Huntington Bancshares were worth $9,085,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HBAN. MV Capital Management Inc. acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares in the third quarter worth about $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $28,000. DV Equities LLC purchased a new position in Huntington Bancshares in the fourth quarter valued at about $38,000. Finally, Quest 10 Wealth Builders Inc. raised its position in shares of Huntington Bancshares by 403.1% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank’s stock valued at $45,000 after purchasing an additional 2,092 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the transaction, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. The trade was a 26.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $18.00, for a total value of $190,224.00. Following the transaction, the executive vice president directly owned 267,859 shares in the company, valued at $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 33,500 shares of company stock worth $617,542 in the last ninety days. 0.67% of the stock is owned by company insiders.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.87 on Monday. Huntington Bancshares Incorporated has a 12-month low of $14.89 and a 12-month high of $19.45. The firm has a market capitalization of $36.22 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $16.73 and a 200 day simple moving average of $16.90.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.21. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same period last year, the company earned $0.34 earnings per share. Equities research analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. DA Davidson reduced their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. The Goldman Sachs Group reduced their target price on Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Evercore restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.25.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.