Huntington Bancshares Incorporated $HBAN Position Cut by Sigma Planning Corp

Sigma Planning Corp lessened its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 78.3% during the third quarter, Holdings Channel reports. The fund owned 15,873 shares of the bank’s stock after selling 57,409 shares during the quarter. Sigma Planning Corp’s holdings in Huntington Bancshares were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Huntington Bancshares in the second quarter valued at approximately $3,134,426,000. Dimensional Fund Advisors LP grew its position in Huntington Bancshares by 27.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,480,601 shares of the bank’s stock valued at $367,388,000 after buying an additional 5,026,894 shares in the last quarter. Amundi increased its stake in Huntington Bancshares by 30.7% during the 1st quarter. Amundi now owns 19,502,547 shares of the bank’s stock valued at $305,215,000 after buying an additional 4,578,566 shares during the period. Bank of America Corp DE bought a new position in shares of Huntington Bancshares in the second quarter valued at approximately $256,772,000. Finally, Bank of New York Mellon Corp raised its holdings in Huntington Bancshares by 17.8% during the first quarter. Bank of New York Mellon Corp now owns 13,184,586 shares of the bank’s stock worth $206,339,000 after purchasing an additional 1,993,618 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $16.01 on Tuesday. Huntington Bancshares Incorporated has a fifty-two week low of $14.82 and a fifty-two week high of $19.45. The stock’s 50-day moving average is $15.94 and its two-hundred day moving average is $16.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $32.35 billion, a P/E ratio of 13.23, a PEG ratio of 1.01 and a beta of 0.95.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. Huntington Bancshares had a net margin of 16.28% and a return on equity of 10.93%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business earned $0.41 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.54 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 18th will be issued a dividend of $0.1550 per share. The ex-dividend date is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.9%. Huntington Bancshares’s payout ratio is 51.24%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director Gary Torgow acquired 12,700 shares of Huntington Bancshares stock in a transaction on Tuesday, October 27th. The stock was bought at an average price of $15.73 per share, for a total transaction of $199,771.00. Following the transaction, the director owned 956,041 shares of the company’s stock, valued at $15,038,524.93. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James D. Rollins III purchased 14,000 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were acquired at an average price of $18.12 per share, for a total transaction of $253,680.00. Following the purchase, the director directly owned 15,500 shares of the company’s stock, valued at approximately $280,860. This represents a 933.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HBAN shares. Morgan Stanley cut Huntington Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $21.00 to $19.00 in a research note on Friday, July 24th. Citigroup dropped their target price on shares of Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Wolfe Research cut Huntington Bancshares from an “outperform” rating to a “peer perform” rating in a report on Tuesday, October 27th. Zacks Research cut Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, Robert W. Baird reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $18.98.

Huntington Bancshares Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.