Greenwood Capital Associates LLC Sells 86,122 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Greenwood Capital Associates LLC has reduced its stake in Huntington Bancshares by 23.1%, selling 86,122 shares, resulting in ownership of 287,046 shares valued at approximately $4.81 million.
• Huntington Bancshares recently declared a quarterly dividend of $0.155 per share, providing an annual yield of 3.6%.
• Several analysts have raised their price targets for Huntington Bancshares, with Deutsche Bank increasing its target from $20.00 to $21.00 and maintaining a "buy" rating.

Greenwood Capital Associates LLC lowered its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 287,046 shares of the bank's stock after selling 86,122 shares during the period. Greenwood Capital Associates LLC's holdings in Huntington Bancshares were worth $4,811,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HBAN. NBC Securities Inc. increased its stake in shares of Huntington Bancshares by 99,980.0% during the 1st quarter. NBC Securities Inc. now owns 10,008 shares of the bank's stock worth $150,000 after purchasing an additional 9,998 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of Huntington Bancshares by 212.5% during the 1st quarter. Merit Financial Group LLC now owns 76,255 shares of the bank's stock worth $1,145,000 after purchasing an additional 51,851 shares during the last quarter. Vest Financial LLC increased its stake in shares of Huntington Bancshares by 2.8% during the 1st quarter. Vest Financial LLC now owns 154,459 shares of the bank's stock worth $2,318,000 after purchasing an additional 4,218 shares during the last quarter. Curat Global LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $52,000. Finally, KRS Capital Management LLC increased its stake in shares of Huntington Bancshares by 11.8% during the 1st quarter. KRS Capital Management LLC now owns 21,287 shares of the bank's stock worth $320,000 after purchasing an additional 2,245 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity

In other news, EVP Marcy C. Hingst sold 41,100 shares of Huntington Bancshares stock in a transaction on Friday, September 5th. The shares were sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the sale, the executive vice president directly owned 299,361 shares of the company's stock, valued at approximately $5,388,498. The trade was a 12.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company's stock.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $17.04 on Friday. The firm has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $16.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. Huntington Bancshares Incorporated has a one year low of $11.91 and a one year high of $18.44. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.82 and a beta of 0.96.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 17th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 17th. Huntington Bancshares's dividend payout ratio (DPR) is presently 45.93%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday. Wolfe Research upgraded shares of Huntington Bancshares from a "peer perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a research note on Thursday, July 3rd. Citigroup lifted their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Finally, DA Davidson lifted their price objective on shares of Huntington Bancshares from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.24.

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.

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