Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 38.8% during the second quarter, HoldingsChannel.com reports. The fund owned 416,196 shares of the bank’s stock after selling 263,315 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Huntington Bancshares were worth $5,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $29,000. Nemes Rush Group LLC lifted its stake in Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. lifted its stake 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 in the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in Huntington Bancshares in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Huntington Bancshares Stock Up 1.3 %

Shares of NASDAQ HBAN opened at $14.38 on Monday. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $15.24. The company has a market cap of $20.84 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.90 and a beta of 1.05. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average price of $14.21 and a 200 day moving average price of $13.69.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts anticipate that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

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 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 4.31%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Activity

In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares in the company, valued at $4,021,690.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was 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 directly owns 65,899 shares in the company, valued at $987,167.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The disclosure for this sale can be found here. Insiders sold 116,622 shares of company stock worth $1,762,904 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Citigroup upped their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Finally, Bank of America increased their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average 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.