FCG Investment Co Trims Holdings in Huntington Bancshares Incorporated $HBAN

Key Points

• FCG Investment Co reduced its stake in Huntington Bancshares by 74.6% during the first quarter, owning 24,554 shares worth $369,000 after selling 72,192 shares.
• Vanguard Group increased its stake in Huntington Bancshares by 0.6%, bringing its total ownership to approximately $2.61 billion after purchasing an additional 978,565 shares.
• The stock has a consensus rating of "Moderate Buy" with a current price target of $18.68 according to several analyst reports.

FCG Investment Co trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 74.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,554 shares of the bank's stock after selling 72,192 shares during the quarter. FCG Investment Co's holdings in Huntington Bancshares were worth $369,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in Huntington Bancshares by 2.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 29,023 shares of the bank's stock worth $436,000 after purchasing an additional 691 shares in the last quarter. Winch Advisory Services LLC increased its holdings in shares of Huntington Bancshares by 18.3% in the first quarter. Winch Advisory Services LLC now owns 4,579 shares of the bank's stock worth $69,000 after purchasing an additional 709 shares during the period. CreativeOne Wealth LLC raised its position in shares of Huntington Bancshares by 4.0% in the fourth quarter. CreativeOne Wealth LLC now owns 20,019 shares of the bank's stock worth $326,000 after buying an additional 762 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Huntington Bancshares by 5.5% during the first quarter. First Horizon Advisors Inc. now owns 16,073 shares of the bank's stock valued at $241,000 after buying an additional 844 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Huntington Bancshares by 4.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,835 shares of the bank's stock worth $328,000 after buying an additional 847 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Up 1.1%

NASDAQ:HBAN traded up $0.18 during trading hours on Wednesday, reaching $16.80. The company's stock had a trading volume of 28,477,802 shares, compared to its average volume of 25,637,650. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.85 and a beta of 0.93. The firm has a 50-day simple moving average of $16.56 and a 200-day simple moving average of $15.67. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $18.44.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Huntington Bancshares's payout ratio is 45.93%.

Insiders Place Their Bets

In related news, EVP Marcy C. Hingst sold 13,700 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $216,323.00. Following the transaction, the executive vice president directly owned 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Argus set a $17.00 price target on Huntington Bancshares in a report on Friday, April 25th. Jefferies Financial Group assumed coverage on shares of Huntington Bancshares in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 target price on the stock. Citigroup lifted their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. DA Davidson increased their price target on shares of Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $21.00 price objective (up from $18.00) on shares of Huntington Bancshares in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average price target of $18.68.

Huntington Bancshares Company 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.