Private Advisor Group LLC Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Private Advisor Group LLC decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 31.8% during the second quarter, Holdings Channel.com reports. The fund owned 58,664 shares of the bank’s stock after selling 27,309 shares during the quarter. Private Advisor Group LLC’s holdings in Huntington Bancshares were worth $773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter worth approximately $29,000. Nemes Rush Group LLC raised its holdings in Huntington Bancshares by 140.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares in the 1st quarter worth about $30,000. Register Financial Advisors LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at about $40,000. Finally, ORG Partners LLC increased its position in shares of Huntington Bancshares by 354.9% during the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after buying an additional 2,594 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN opened at $14.64 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $21.22 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The firm’s 50 day moving average price is $14.25 and its 200-day moving average price is $13.70. Huntington Bancshares Incorporated has a twelve month low of $9.25 and a twelve month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter last year, the company posted $0.35 EPS. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 4.23%. The ex-dividend date of this dividend is Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Analyst Ratings Changes

HBAN has been the topic of several research reports. Baird R W cut Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. decreased their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Keefe, Bruyette & Woods dropped their target price on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada increased their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, Bank of America boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Insider Activity

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares in the company, valued at approximately $1,054,364.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock valued at $1,762,904 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.