Financial Counselors Inc. Sells 52,466 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Financial Counselors Inc. reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,349,219 shares of the bank's stock after selling 52,466 shares during the quarter. Financial Counselors Inc. owned approximately 0.09% of Huntington Bancshares worth $20,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at $29,000. LFA Lugano Financial Advisors SA bought a new position in shares of Huntington Bancshares during the first quarter valued at $31,000. Golden State Wealth Management LLC lifted its holdings in shares of Huntington Bancshares by 516.3% during the first quarter. Golden State Wealth Management LLC now owns 2,231 shares of the bank's stock valued at $33,000 after acquiring an additional 1,869 shares during the period. Wayfinding Financial LLC bought a new position in shares of Huntington Bancshares during the first quarter valued at $39,000. Finally, Transce3nd LLC bought a new position in shares of Huntington Bancshares during the fourth quarter valued at $48,000. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

HBAN has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on Huntington Bancshares from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Wolfe Research raised Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Thursday. Argus set a $17.00 price target on Huntington Bancshares in a report on Friday, April 25th. Cowen started coverage on Huntington Bancshares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Huntington Bancshares Stock Performance

NASDAQ:HBAN remained flat at $17.54 on Monday. The company's stock had a trading volume of 33,536,720 shares, compared to its average volume of 19,097,642. The firm has a market capitalization of $25.62 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. Huntington Bancshares Incorporated has a 12-month low of $11.92 and a 12-month high of $18.45. The business has a 50 day moving average of $15.83 and a 200-day moving average of $15.67. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.98.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted its earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same period in the previous year, the company earned $0.27 EPS. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 3.53%. Huntington Bancshares's payout ratio is currently 47.33%.

Huntington Bancshares declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to repurchase up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Huntington Bancshares

In related news, EVP Marcy C. Hingst sold 13,700 shares of the business'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 value of $216,323.00. Following the completion of the transaction, the executive vice president directly owned 337,879 shares in the company, valued at approximately $5,335,109.41. The trade was a 3.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kendall A. Kowalski sold 25,419 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $13.68, for a total value of $347,731.92. Following the completion of the transaction, the insider owned 70,281 shares of the company's stock, valued at $961,444.08. This represents a 26.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 214,375 shares of company stock worth $3,049,277. 0.89% of the stock is owned by company insiders.

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.