Wrapmanager Inc. Trims Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wrapmanager Inc. cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,378 shares of the bank’s stock after selling 5,303 shares during the quarter. Wrapmanager Inc.’s holdings in Huntington Bancshares were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $29,000. Planned Solutions Inc. purchased a new stake in Huntington Bancshares in the fourth quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC acquired a new position in Huntington Bancshares during the third quarter worth $35,000. Baker Avenue Asset Management LP boosted its position in shares of Huntington Bancshares by 31.8% during the third quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock worth $42,000 after buying an additional 963 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Huntington Bancshares by 184.0% in the fourth quarter. Allworth Financial LP now owns 4,007 shares of the bank’s stock valued at $51,000 after buying an additional 2,596 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 traded down $0.03 during mid-day trading on Thursday, hitting $14.02. 9,441,241 shares of the stock were exchanged, compared to its average volume of 17,148,400. The stock’s fifty day simple moving average is $13.52 and its two-hundred day simple moving average is $12.49. 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 Incorporated has a 12-month low of $9.13 and a 12-month high of $14.10. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 2.55 and a beta of 1.09.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.38 EPS. On average, analysts forecast that Huntington Bancshares Incorporated will post 1.21 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a yield of 4.42%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the sale, the chief financial officer now directly owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total value of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,092 shares of company stock valued at $3,031,731. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HBAN. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a report on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

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.