PFG Investments LLC Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

PFG Investments LLC cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,578 shares of the bank’s stock after selling 4,220 shares during the period. PFG Investments LLC’s holdings in Huntington Bancshares were worth $273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC raised its stake in Huntington Bancshares by 200.7% in the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after buying an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new position in shares of Huntington Bancshares in the 3rd quarter worth approximately $29,000. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 purchasing an additional 2,003 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $31,000. Finally, ORG Partners LLC grew its stake in Huntington Bancshares by 354.9% in the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock worth $44,000 after purchasing an additional 2,594 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This 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 can be accessed through the SEC website. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HBAN. Argus raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Huntington Bancshares in a research report on Friday, October 18th. Bank of America upped their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $15.74 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. The business has a 50-day simple moving average of $14.85 and a two-hundred day simple moving average of $14.04. Huntington Bancshares Incorporated has a fifty-two week low of $9.49 and a fifty-two week high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the company earned $0.36 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.2 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.94%. Huntington Bancshares’s payout ratio is 59.62%.

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.