Louisiana State Employees Retirement System Decreases Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Louisiana State Employees Retirement System lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,000 shares of the bank’s stock after selling 2,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Huntington Bancshares were worth $1,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares during the 1st quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares during the first quarter worth about $30,000. Nemes Rush Group LLC grew its stake in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Huntington Bancshares during the 1st quarter valued at about $40,000. Finally, ORG Partners LLC raised its position in Huntington Bancshares by 354.9% during the 2nd quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after purchasing an additional 2,594 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now directly owns 648,904 shares in the company, valued at approximately $8,851,050.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares in the company, valued at $1,054,364.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 7,278 shares of the stock in a transaction that occurred 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 owns 648,904 shares in the company, valued at $8,851,050.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,900 shares of company stock valued at $1,862,176. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on HBAN. Royal Bank of Canada boosted their target price on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. UBS Group decreased their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Morgan Stanley lifted their target price on shares of Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Argus increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Stock Down 0.1 %

NASDAQ:HBAN opened at $14.59 on Wednesday. The firm has a 50-day simple moving average of $13.77 and a two-hundred day simple moving average of $13.53. The firm has a market cap of $21.14 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.94 and a beta of 1.06. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the previous year, the business earned $0.35 EPS. Analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current fiscal year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.25%. Huntington Bancshares’s payout ratio is 55.86%.

Huntington Bancshares Company 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.