Huntington Bancshares Incorporated $HBAN Shares Sold by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC cut its Huntington Bancshares position by 18.1% in the first quarter, selling 125,343 shares and leaving it with 565,859 shares valued at about $8.86 million.
• Huntington Bancshares beat quarterly expectations, reporting EPS of $0.37 versus the $0.16 consensus and revenue of $2.59 billion, while analysts now see full-year EPS of 1.62.
• The stock has attracted generally positive analyst sentiment, with a Moderate Buy consensus and an average price target of $20.25, while shares recently traded around $17.87 and the company maintains a 3.5% dividend yield.

Sequoia Financial Advisors LLC decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 565,859 shares of the bank's stock after selling 125,343 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Huntington Bancshares were worth $8,856,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Huntington Bancshares by 5.0% in the first quarter. Empowered Funds LLC now owns 28,888 shares of the bank's stock valued at $434,000 after buying an additional 1,366 shares in the last quarter. Woodline Partners LP lifted its stake in Huntington Bancshares by 40.8% during the 1st quarter. Woodline Partners LP now owns 122,821 shares of the bank's stock worth $1,844,000 after acquiring an additional 35,574 shares in the last quarter. Brown Advisory Inc. lifted its stake in Huntington Bancshares by 8.3% during the 2nd quarter. Brown Advisory Inc. now owns 39,490 shares of the bank's stock worth $662,000 after acquiring an additional 3,023 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Huntington Bancshares by 6.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 219,185 shares of the bank's stock valued at $3,674,000 after acquiring an additional 12,865 shares during the period. Finally, Sei Investments Co. boosted its holdings in Huntington Bancshares by 6.2% during the 2nd quarter. Sei Investments Co. now owns 707,605 shares of the bank's stock valued at $11,859,000 after acquiring an additional 41,156 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. 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 note on Monday, July 6th. Royal Bank Of Canada raised their price objective on shares of Huntington Bancshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. UBS Group lifted their price objective on shares of Huntington Bancshares from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. DA Davidson cut their target price on shares of Huntington Bancshares from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, March 16th. Finally, Wall Street Zen upgraded shares of Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.25.

Huntington Bancshares Stock Up 0.6%

HBAN stock traded up $0.11 during mid-day trading on Friday, reaching $17.87. The company had a trading volume of 14,157,471 shares, compared to its average volume of 19,734,146. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $36.22 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.81 and a beta of 0.93. The firm has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $16.91. Huntington Bancshares Incorporated has a fifty-two week low of $14.89 and a fifty-two week high of $19.45.

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

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th were paid a $0.155 dividend. The ex-dividend date was Wednesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.5%. Huntington Bancshares's payout ratio is currently 47.69%.

Insider Activity at Huntington Bancshares

In other news, Director James D. Rollins III sold 223,522 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director directly owned 612,155 shares in the company, valued at approximately $10,620,889.25. This trade represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marcy C. Hingst sold 10,568 shares of Huntington Bancshares stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $190,224.00. Following the sale, the executive vice president directly owned 267,859 shares of the company's stock, valued at approximately $4,821,462. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 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 company 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.

Want to see what other hedge funds are holding HBAN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.