Cutter & CO Brokerage Inc. Sells 11,632 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cutter & CO Brokerage Inc. trimmed its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 41.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 16,118 shares of the bank’s stock after selling 11,632 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Huntington Bancshares were worth $205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Huntington Bancshares in the third quarter worth $381,000. SG Americas Securities LLC increased its position in shares of Huntington Bancshares by 208.2% in the third quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock valued at $753,000 after acquiring an additional 48,913 shares during the period. DAVENPORT & Co LLC raised its stake in shares of Huntington Bancshares by 5.9% during the third quarter. DAVENPORT & Co LLC now owns 252,970 shares of the bank’s stock valued at $2,631,000 after acquiring an additional 14,146 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of Huntington Bancshares by 51.0% during the third quarter. Caprock Group LLC now owns 25,311 shares of the bank’s stock worth $268,000 after purchasing an additional 8,550 shares during the period. Finally, Trinity Financial Advisors LLC grew its stake in shares of Huntington Bancshares by 47.9% in the third quarter. Trinity Financial Advisors LLC now owns 55,655 shares of the bank’s stock worth $579,000 after purchasing an additional 18,025 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Insider Activity

In other news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were 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 of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock worth $1,360,359 over the last 90 days. 0.92% of the stock is currently owned by insiders.

Huntington Bancshares Stock Up 0.7 %

HBAN stock traded up $0.09 on Wednesday, reaching $13.72. 7,294,855 shares of the company traded hands, compared to its average volume of 17,754,143. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day simple moving average of $13.31 and a 200-day simple moving average of $12.21. Huntington Bancshares Incorporated has a one year low of $9.13 and a one year high of $14.07. The company has a market cap of $19.89 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the previous year, the firm earned $0.38 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.52%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Huntington Bancshares Company 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.