First United Bank Trust Purchases New Holdings in Huntington Bancshares Incorporated (HBAN)
First United Bank Trust purchased a new position in Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,169 shares of the bank’s stock, valued at approximately $264,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Moody National Bank Trust Division lifted its holdings in shares of Huntington Bancshares by 43.8% in the 4th quarter. Moody National Bank Trust Division now owns 4,191 shares of the bank’s stock worth $50,000 after purchasing an additional 1,276 shares during the last quarter. WINTON GROUP Ltd increased its position in Huntington Bancshares by 34.3% in the 3rd quarter. WINTON GROUP Ltd now owns 14,376 shares of the bank’s stock valued at $214,000 after acquiring an additional 3,668 shares during the period. Veritable L.P. increased its position in Huntington Bancshares by 19.6% in the 3rd quarter. Veritable L.P. now owns 22,715 shares of the bank’s stock valued at $339,000 after acquiring an additional 3,728 shares during the period. Oregon Public Employees Retirement Fund increased its position in Huntington Bancshares by 3.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 121,531 shares of the bank’s stock valued at $1,813,000 after acquiring an additional 3,810 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Huntington Bancshares by 1.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 215,904 shares of the bank’s stock valued at $3,221,000 after acquiring an additional 4,028 shares during the period. 76.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of HBAN stock opened at $12.88 on Wednesday. Huntington Bancshares Incorporated has a 1 year low of $11.12 and a 1 year high of $16.60. The firm has a market cap of $13.62 billion, a PE ratio of 10.97, a PEG ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 0.90.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Monday, December 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 57.14%.
Several analysts recently commented on the company. Zacks Investment Research cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. ValuEngine cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Wedbush cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $16.00 in a research report on Friday, November 2nd. Finally, BMO Capital Markets lowered their target price on Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.97.
In related news, insider Helga Houston sold 42,608 shares of Huntington Bancshares stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $14.66, for a total value of $624,633.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen D. Steinour bought 17,493 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The stock was bought at an average price of $13.48 per share, for a total transaction of $235,805.64. Following the completion of the acquisition, the chief executive officer now directly owns 4,768,399 shares in the company, valued at $64,278,018.52. The disclosure for this purchase can be found here. 1.05% of the stock is currently owned by company insiders.
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About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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