Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 61.1% during the third quarter, Holdings Channel.com reports. The firm owned 11,468,363 shares of the bank’s stock after selling 18,009,623 shares during the quarter. JPMorgan Chase & Co.’s holdings in Huntington Bancshares were worth $168,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Huntington Bancshares by 6.9% in the third quarter. Principal Financial Group Inc. now owns 1,743,357 shares of the bank’s stock valued at $25,627,000 after acquiring an additional 112,146 shares during the last quarter. Franklin Resources Inc. raised its position in Huntington Bancshares by 3.2% in the third quarter. Franklin Resources Inc. now owns 1,797,771 shares of the bank’s stock valued at $27,901,000 after purchasing an additional 55,602 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Huntington Bancshares in the 3rd quarter valued at $1,389,000. Arvest Bank Trust Division acquired a new stake in shares of Huntington Bancshares during the 3rd quarter worth about $2,381,000. Finally, Sanctuary Advisors LLC raised its holdings in Huntington Bancshares by 286.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 474,752 shares of the bank’s stock valued at $6,979,000 after buying an additional 351,850 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HBAN shares. Evercore ISI lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Citigroup raised their target price on Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $17.56.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $16.27 on Wednesday. The stock’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $15.12. 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 capitalization of $23.64 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.47 and a beta of 1.06. Huntington Bancshares Incorporated has a fifty-two week low of $12.02 and a fifty-two week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts forecast that Huntington Bancshares Incorporated will post 1.21 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. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Transactions at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company’s stock.

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.