PNC Financial Services Group Inc. Lowers Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PNC Financial Services Group Inc. lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 513,080 shares of the bank’s stock after selling 28,207 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Huntington Bancshares were worth $6,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HBAN. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares in the 4th quarter valued at about $29,000. Nemes Rush Group LLC increased its stake in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares during the period. Planned Solutions Inc. acquired a new position in shares of Huntington Bancshares in the fourth quarter worth about $33,000. Baker Avenue Asset Management LP boosted its stake in shares of Huntington Bancshares by 31.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 3,992 shares of the bank’s stock valued at $42,000 after buying an additional 963 shares during the last quarter. Finally, Spartan Planning & Wealth Management acquired a new position in Huntington Bancshares during the 4th quarter worth $46,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total value of $99,271.92. Following the sale, the insider now owns 648,904 shares in the company, valued at $8,851,050.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Kendall A. Kowalski sold 15,711 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total transaction of $217,440.24. Following the completion of the transaction, the insider now owns 65,195 shares in the company, valued at $902,298.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the transaction, the insider now directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock valued at $2,148,623 in the last 90 days. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. UBS Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Piper Sandler cut Huntington Bancshares from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $13.50 to $11.50 in a report on Friday. Morgan Stanley reduced their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.13.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $12.39 on Tuesday. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.30. The company’s 50-day moving average is $13.54 and its 200 day moving average is $13.10. The company has a market capitalization of $17.96 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 2.29 and a beta of 1.08. 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 (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

About Huntington Bancshares

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.