Huntington Bancshares Incorporated (NASDAQ:HBAN) Holdings Lowered by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 820,319 shares of the bank's stock after selling 196,071 shares during the period. Wellington Management Group LLP owned 0.06% of Huntington Bancshares worth $13,347,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Huntington Bancshares by 89.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 376,733 shares of the bank's stock worth $6,129,000 after acquiring an additional 177,356 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Huntington Bancshares by 7.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 12,013 shares of the bank's stock worth $195,000 after purchasing an additional 856 shares during the period. Park Square Financial Group LLC acquired a new stake in Huntington Bancshares during the 4th quarter worth approximately $96,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Huntington Bancshares in the fourth quarter valued at approximately $12,500,000. Finally, Pinnacle Wealth Planning Services Inc. lifted its position in Huntington Bancshares by 80.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 22,961 shares of the bank's stock valued at $374,000 after buying an additional 10,202 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Huntington Bancshares from a "hold" rating to a "buy" rating and set a $17.50 target price on the stock in a research note on Thursday, April 24th. Baird R W upgraded Huntington Bancshares from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Citigroup lowered their target price on Huntington Bancshares from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Raymond James reissued a "strong-buy" rating and set a $18.00 price target (down from $20.00) on shares of Huntington Bancshares in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price target on Huntington Bancshares from $18.00 to $17.00 and set a "market perform" rating for the company in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.83.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN remained flat at $15.74 during trading on Thursday. The stock had a trading volume of 26,059,589 shares, compared to its average volume of 18,291,344. The stock has a 50 day simple moving average of $14.65 and a 200 day simple moving average of $15.87. Huntington Bancshares Incorporated has a 1-year low of $11.92 and a 1-year high of $18.45. The firm has a market capitalization of $22.99 billion, a PE ratio of 12.80, a PEG ratio of 1.33 and a beta of 0.92. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last posted 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. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.27 EPS. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 3.94%. Huntington Bancshares's payout ratio is currently 47.33%.

Huntington Bancshares declared that its board has initiated a stock buyback program on Thursday, April 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the bank to buy up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 38,451 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now directly owns 335,538 shares in the company, valued at approximately $4,825,036.44. The trade was a 10.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 3,521 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total value of $53,695.25. Following the completion of the transaction, the vice president now directly owns 47,950 shares of the company's stock, valued at $731,237.50. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,456 shares of company stock valued at $4,464,105. 0.89% of the stock is currently owned by insiders.

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.