Huntington Bancshares Incorporated $HBAN Holdings Decreased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Huntington Bancshares by 4.7% in the first quarter, selling 386,572 shares and leaving it with 7.77 million shares worth about $121.6 million.
• Huntington Bancshares reported better-than-expected quarterly earnings of $0.37 per share versus the $0.16 consensus estimate, while revenue came in slightly above forecasts at $2.59 billion.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $20.25, though some firms recently cut ratings or targets.

Hsbc Holdings PLC lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,774,513 shares of the bank's stock after selling 386,572 shares during the quarter. Hsbc Holdings PLC owned about 0.38% of Huntington Bancshares worth $121,551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new stake in shares of Huntington Bancshares in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Huntington Bancshares during the third quarter valued at approximately $26,000. Centennial Bank AR acquired a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $28,000. DV Equities LLC bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $38,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Huntington Bancshares by 403.1% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 2,611 shares of the bank's stock worth $45,000 after purchasing an additional 2,092 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Trading Down 1.7%

Huntington Bancshares stock opened at $18.25 on Friday. The firm has a market cap of $37.00 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.93. Huntington Bancshares Incorporated has a 1 year low of $14.89 and a 1 year high of $19.45. The firm's 50 day moving average price is $16.90 and its two-hundred day moving average price is $16.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.21. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.57 billion. Huntington Bancshares had a return on equity of 11.42% and a net margin of 16.63%.During the same quarter in the prior year, the firm earned $0.34 EPS. On average, research analysts predict that Huntington Bancshares Incorporated will post 1.62 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Huntington Bancshares's dividend payout ratio is currently 47.69%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HBAN. Jefferies Financial Group lowered Huntington Bancshares from a "buy" rating to a "hold" rating and decreased their price target for the company from $21.00 to $19.00 in a research note on Monday, July 6th. Wall Street Zen raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised Huntington Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, July 6th. Wolfe Research lowered their target price on Huntington Bancshares from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Huntington Bancshares from $18.50 to $19.50 and gave the stock an "overweight" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Insiders Place Their Bets

In other Huntington Bancshares news, Director James D. Rollins III sold 223,522 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.35, for a total transaction of $3,878,106.70. Following the completion of the sale, the director directly owned 612,155 shares of the company's stock, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marcy C. Hingst sold 10,568 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the completion of the transaction, the executive vice president owned 267,859 shares of the company's stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 33,500 shares of company stock valued at $617,542 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

Huntington Bancshares Profile

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.

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