Pettee Investors Inc. Trims Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Pettee Investors Inc. decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) by 75.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,427 shares of the bank's stock after selling 79,550 shares during the quarter. Pettee Investors Inc.'s holdings in Huntington Bancshares were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in HBAN. Balanced Wealth Group LLC purchased a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $179,000. Lincoln National Corp grew its stake in Huntington Bancshares by 43.9% in the fourth quarter. Lincoln National Corp now owns 27,114 shares of the bank's stock worth $345,000 after purchasing an additional 8,269 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Huntington Bancshares in the fourth quarter worth $195,000. Sapient Capital LLC purchased a new position in Huntington Bancshares during the fourth quarter valued at $167,000. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Huntington Bancshares by 21.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 76,738 shares of the bank's stock valued at $976,000 after buying an additional 13,357 shares in the last quarter. Institutional investors own 80.72% of the company's stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.04 during trading hours on Friday, reaching $14.06. The company had a trading volume of 11,707,524 shares, compared to its average volume of 17,088,613. The firm has a market cap of $20.38 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The business has a fifty day moving average price of $13.52 and a 200-day moving average price of $12.49. Huntington Bancshares Incorporated has a one year low of $9.13 and a one year high of $14.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period in the previous year, the business earned $0.38 EPS. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares's payout ratio is 55.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on HBAN shares. UBS Group upgraded shares of Huntington Bancshares from a "neutral" rating to a "buy" rating and increased their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Bank of America upgraded shares of Huntington Bancshares from a "neutral" rating to a "buy" rating and lifted their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. JPMorgan Chase & Co. upped their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, April 4th. Stephens reaffirmed an "equal weight" rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an "outperform" rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $15.17.

Insider Activity at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ann B. Crane sold 58,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,092 shares of company stock worth $3,031,731. 0.92% of the stock is owned by company 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.

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