Huntington Bancshares Incorporated $HBAN Stake Cut by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its stake in Huntington Bancshares by 60.8% in Q3, selling 84,800 shares and leaving it with 54,587 shares valued at about $943,000.
• Insider activity was mixed: director Gary Torgow bought 14,200 shares at $17.81 while insider Amit Dhingra sold 10,000 shares at $18.50; over the past three months insiders bought 27,700 and sold 50,145 shares, and insiders now own 0.89% of the stock.
• Huntington announced a quarterly dividend of $0.155 per share (annualized $0.62, ~3.8% yield) while the most recent quarter showed an EPS miss of $0.37 vs. $0.40 consensus and slightly below‑expected revenue.

Crossmark Global Holdings Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 60.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,587 shares of the bank's stock after selling 84,800 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Huntington Bancshares were worth $943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Parcion Private Wealth LLC increased its holdings in shares of Huntington Bancshares by 6.2% in the 3rd quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank's stock valued at $191,000 after purchasing an additional 648 shares during the period. Strategic Planning Inc. boosted its holdings in shares of Huntington Bancshares by 0.3% during the third quarter. Strategic Planning Inc. now owns 199,318 shares of the bank's stock worth $3,442,000 after purchasing an additional 670 shares during the period. Benjamin Edwards Inc. grew its position in Huntington Bancshares by 1.0% during the third quarter. Benjamin Edwards Inc. now owns 73,147 shares of the bank's stock valued at $1,263,000 after purchasing an additional 758 shares in the last quarter. Wedmont Private Capital increased its stake in Huntington Bancshares by 3.1% in the 3rd quarter. Wedmont Private Capital now owns 27,294 shares of the bank's stock valued at $457,000 after buying an additional 808 shares during the period. Finally, Chris Bulman Inc increased its stake in Huntington Bancshares by 7.8% in the 3rd quarter. Chris Bulman Inc now owns 11,698 shares of the bank's stock valued at $202,000 after buying an additional 847 shares during the period. Hedge funds and other institutional investors own 80.72% of the company's stock.

Insider Activity at Huntington Bancshares

In related news, insider Amit Dhingra sold 10,000 shares of the business's stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider owned 155,634 shares of the company's stock, valued at approximately $2,879,229. The trade was a 6.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Torgow bought 14,200 shares of the stock in a transaction on Thursday, February 19th. The stock was acquired at an average cost of $17.81 per share, for a total transaction of $252,902.00. Following the acquisition, the director directly owned 943,341 shares in the company, valued at approximately $16,800,903.21. The trade was a 1.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 27,700 shares of company stock valued at $540,401 and sold 50,145 shares valued at $929,885. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Trading Down 1.2%

Shares of HBAN stock opened at $16.12 on Tuesday. Huntington Bancshares Incorporated has a 12 month low of $11.91 and a 12 month high of $19.45. The company has a market cap of $32.72 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80. The business's 50 day moving average is $17.67 and its two-hundred day moving average is $17.08.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the firm posted $0.34 earnings per share. Equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.8%. Huntington Bancshares's payout ratio is currently 44.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. Raymond James Financial upped their price target on shares of Huntington Bancshares from $20.00 to $21.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 23rd. Wall Street Zen lowered Huntington Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. UBS Group set a $21.00 target price on Huntington Bancshares in a research note on Wednesday, February 4th. Finally, Argus raised their price target on Huntington Bancshares from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.78.

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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