Ballentine Partners LLC Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ballentine Partners LLC lifted its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,940 shares of the bank’s stock after purchasing an additional 2,475 shares during the period. Ballentine Partners LLC’s holdings in Huntington Bancshares were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. &PARTNERS purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth $146,000. Marcum Wealth LLC lifted its position in shares of Huntington Bancshares by 6.6% during the 1st quarter. Marcum Wealth LLC now owns 51,498 shares of the bank’s stock worth $718,000 after purchasing an additional 3,205 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Huntington Bancshares by 1.3% during the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after purchasing an additional 794 shares during the last quarter. Wedmont Private Capital raised its stake in Huntington Bancshares by 7.2% during the 1st quarter. Wedmont Private Capital now owns 14,262 shares of the bank’s stock worth $200,000 after acquiring an additional 960 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in Huntington Bancshares by 261.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 83,547 shares of the bank’s stock worth $1,165,000 after acquiring an additional 60,462 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Kendall A. Kowalski sold 15,711 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now owns 65,195 shares of the company’s stock, valued at $902,298.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,829 shares of company stock valued at $2,148,623. Corporate insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of several research analyst reports. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Evercore ISI cut their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price target on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Stephens restated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.07.

Huntington Bancshares Stock Down 0.3 %

Shares of NASDAQ:HBAN opened at $12.71 on Thursday. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 2.41 and a beta of 1.08. The firm’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $13.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate 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 firm earned $0.38 earnings per share. As a group, equities research analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s payout ratio is 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.