Bell Bank Sells 73,576 Shares of Huntington Bancshares Incorporated $HBAN

Key Points

• Bell Bank reduced its stake in Huntington Bancshares by 12.3%, selling 73,576 shares, and now holds 523,977 shares valued at approximately $8.78 million.
• Insider activity includes EVP Marcy C. Hingst selling 41,100 shares at an average price of $18.00, resulting in a 12.07% decrease in her position.
• The bank recently announced a quarterly dividend of $0.155 per share, with a yield of 3.5%, set to be paid on October 1st.

Bell Bank trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 12.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 523,977 shares of the bank's stock after selling 73,576 shares during the quarter. Bell Bank's holdings in Huntington Bancshares were worth $8,782,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. IFM Investors Pty Ltd boosted its position in shares of Huntington Bancshares by 6.4% in the second quarter. IFM Investors Pty Ltd now owns 309,501 shares of the bank's stock worth $5,187,000 after buying an additional 18,686 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in Huntington Bancshares during the second quarter valued at $25,000. Wealth Enhancement Advisory Services LLC boosted its position in Huntington Bancshares by 6.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 342,709 shares of the bank's stock valued at $6,011,000 after purchasing an additional 21,224 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Huntington Bancshares by 4.2% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 546,000 shares of the bank's stock valued at $9,151,000 after purchasing an additional 22,100 shares during the last quarter. Finally, Swedbank AB boosted its position in Huntington Bancshares by 4.0% during the second quarter. Swedbank AB now owns 407,147 shares of the bank's stock valued at $6,824,000 after purchasing an additional 15,797 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lifted their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $21.00 price target (up previously from $18.00) on shares of Huntington Bancshares in a research report on Tuesday, July 8th. Wall Street Zen cut Huntington Bancshares from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Jefferies Financial Group boosted their price target on Huntington Bancshares from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, DA Davidson boosted their price target on Huntington Bancshares from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.84.

Huntington Bancshares Trading Up 0.9%

Shares of HBAN stock traded up $0.16 during trading hours on Tuesday, reaching $17.49. The company had a trading volume of 5,310,391 shares, compared to its average volume of 25,714,586. The company has a 50 day moving average of $17.02 and a 200 day moving average of $15.87. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.86 and a beta of 0.96. Huntington Bancshares Incorporated has a 1-year low of $11.91 and a 1-year high of $18.44.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 17th will be given a $0.155 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.5%. Huntington Bancshares's dividend payout ratio is currently 45.93%.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, EVP Marcy C. Hingst sold 41,100 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $18.00, for a total transaction of $739,800.00. Following the completion of the transaction, the executive vice president owned 299,361 shares in the company, valued at approximately $5,388,498. This represents a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company's stock.

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.