Ledyard National Bank Acquires Shares of 10,819 Huntington Bancshares Incorporated (NASDAQ:HBAN)

Ledyard National Bank acquired a new stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,819 shares of the bank’s stock, valued at approximately $159,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC lifted its holdings in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares during the first quarter valued at about $29,000. Peoples Bank KS bought a new stake in shares of Huntington Bancshares during the third quarter valued at about $29,000. Hazlett Burt & Watson Inc. increased its position in shares of Huntington Bancshares by 695.5% during the second 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 period. Finally, Register Financial Advisors LLC bought a new stake in shares of Huntington Bancshares during the first quarter valued at about $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction dated 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 directly owns 618,832 shares of the company’s stock, valued at $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Huntington Bancshares news, 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 transaction, the insider now owns 618,832 shares in the company, valued at approximately $9,294,856.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 11,111 shares in the company, valued at $167,331.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $15.54 on Wednesday. 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 market capitalization of $22.52 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $16.03. The stock has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $13.95.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company posted $0.36 EPS. On average, analysts predict that Huntington Bancshares Incorporated will post 1.18 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HBAN shares. Morgan Stanley upped their price target on Huntington Bancshares from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a report on Friday, October 18th. Evercore ISI reduced their price target on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.03.

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.