HBK Sorce Advisory LLC Sells 3,254 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

HBK Sorce Advisory LLC trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,199 shares of the bank’s stock after selling 3,254 shares during the period. HBK Sorce Advisory LLC’s holdings in Huntington Bancshares were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at $29,000. Nemes Rush Group LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Huntington Bancshares during the first quarter worth about $30,000. Hazlett Burt & Watson Inc. raised its position in Huntington Bancshares by 695.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at approximately $40,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $14.38 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.90 and a beta of 1.05. The stock’s fifty day moving average price is $14.21 and its two-hundred day moving average price is $13.69. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion for 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 last year, the firm earned $0.35 earnings per share. On average, equities analysts forecast that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Buying and Selling

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Brendan A. Lawlor sold 9,050 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the sale, the insider now owns 618,832 shares in the company, valued at approximately $9,294,856.64. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock valued at $1,762,904 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBAN. Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Argus increased their price objective 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. 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 research report on Thursday, June 13th. StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.59.

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.