Bell Bank Sells 86,179 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bell Bank trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 503,307 shares of the bank’s stock after selling 86,179 shares during the period. Bell Bank’s holdings in Huntington Bancshares were worth $7,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in HBAN. Lazard Asset Management LLC raised its stake in Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after buying an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Huntington Bancshares by 53.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after acquiring an additional 564,729 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Huntington Bancshares during the 2nd quarter worth $744,000. Robeco Institutional Asset Management B.V. grew its stake in Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock valued at $2,837,000 after purchasing an additional 55,865 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Huntington Bancshares by 531.0% in the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after purchasing an additional 968,331 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Trading Down 0.6 %

Shares of HBAN opened at $17.54 on Thursday. Huntington Bancshares Incorporated has a 12-month low of $10.55 and a 12-month high of $17.97. The firm has a market capitalization of $25.48 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.58 and a beta of 1.03. The firm has a 50-day moving average price of $15.26 and a 200 day moving average price of $14.27. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $0.36 EPS. Sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research report on Monday, October 21st. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Morgan Stanley upped their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.09.

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.