Cullen Frost Bankers Inc. Trims Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cullen Frost Bankers Inc. cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,773 shares of the bank’s stock after selling 858 shares during the period. Cullen Frost Bankers Inc.’s holdings in Huntington Bancshares were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Boston Partners raised its stake in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares during the period. Victory Capital Management Inc. raised its stake in Huntington Bancshares by 0.4% during the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after purchasing an additional 65,355 shares during the period. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter worth about $206,703,000. Dimensional Fund Advisors LP raised its stake in Huntington Bancshares by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,130,774 shares of the bank’s stock worth $192,473,000 after purchasing an additional 765,070 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Bancshares

In other news, insider Kendall A. Kowalski sold 5,747 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kendall A. Kowalski sold 5,747 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of research analyst reports. Robert W. Baird downgraded shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, July 26th. Citigroup boosted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Argus boosted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI reduced 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, June 25th. Finally, Morgan Stanley boosted their price target 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Trading Down 2.5 %

NASDAQ HBAN opened at $14.29 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares Incorporated has a 52 week low of $9.25 and a 52 week high of $15.24. The stock has a market capitalization of $20.71 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05. The firm has a 50 day moving average of $14.13 and a two-hundred day moving average of $13.66.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.34%. Huntington Bancshares’s dividend payout ratio is presently 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.