SG Americas Securities LLC lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 88.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,452 shares of the bank's stock after selling 464,245 shares during the period. SG Americas Securities LLC's holdings in Huntington Bancshares were worth $907,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in HBAN. Accurate Wealth Management LLC increased its position in Huntington Bancshares by 10.8% during the 1st quarter. Accurate Wealth Management LLC now owns 17,548 shares of the bank's stock valued at $263,000 after buying an additional 1,713 shares in the last quarter. GAMMA Investing LLC increased its position in Huntington Bancshares by 6.4% during the 1st quarter. GAMMA Investing LLC now owns 42,196 shares of the bank's stock valued at $633,000 after buying an additional 2,540 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in Huntington Bancshares during the 1st quarter valued at approximately $1,435,000. Pallas Capital Advisors LLC increased its position in Huntington Bancshares by 142.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 75,206 shares of the bank's stock valued at $1,129,000 after buying an additional 44,138 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Huntington Bancshares by 129.8% during the 1st quarter. Farther Finance Advisors LLC now owns 28,301 shares of the bank's stock valued at $423,000 after buying an additional 15,984 shares in the last quarter. Institutional investors own 80.72% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on HBAN. Citigroup reduced their price objective on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $18.00 price objective (down previously from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Robert W. Baird upgraded Huntington Bancshares from a "neutral" rating to an "outperform" rating and set a $18.00 target price on the stock in a research note on Friday, March 7th. Stephens reiterated an "equal weight" rating and set a $16.50 target price on shares of Huntington Bancshares in a research note on Monday, April 21st. Finally, Cowen started coverage on Huntington Bancshares in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average price target of $18.08.
Check Out Our Latest Report on HBAN
Huntington Bancshares Stock Performance
Shares of HBAN stock traded up $0.11 on Friday, reaching $15.84. The stock had a trading volume of 27,454,187 shares, compared to its average volume of 18,653,297. The stock has a market cap of $23.14 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Huntington Bancshares Incorporated has a 1 year low of $11.92 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.89 and a current ratio of 0.90. The company has a 50 day simple moving average of $15.16 and a 200 day simple moving average of $15.72.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. Huntington Bancshares had a return on equity of 11.44% and a net margin of 16.94%. During the same period last year, the business posted $0.27 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.
Huntington Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.62 annualized dividend and a yield of 3.91%. Huntington Bancshares's dividend payout ratio (DPR) is presently 47.33%.
Huntington Bancshares declared that its board has authorized a stock buyback plan on Thursday, April 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.
Insider Activity at Huntington Bancshares
In related news, CFO Zachary Jacob Wasserman sold 59,060 shares of Huntington Bancshares stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $14.36, for a total transaction of $848,101.60. Following the transaction, the chief financial officer now directly owns 277,348 shares in the company, valued at approximately $3,982,717.28. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marcy C. Hingst sold 13,700 shares of Huntington Bancshares stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $216,323.00. Following the transaction, the executive vice president now owns 337,879 shares in the company, valued at $5,335,109.41. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,617 shares of company stock worth $3,113,982. Corporate insiders own 0.89% of the company's stock.
About Huntington Bancshares
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Free Report)
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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