First County Bank CT Decreases Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

First County Bank CT lowered its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,956 shares of the bank’s stock after selling 10,566 shares during the quarter. First County Bank CT’s holdings in Huntington Bancshares were worth $1,001,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares in the first quarter worth about $29,000. YHB Investment Advisors Inc. bought a new stake in shares of Huntington Bancshares in the 1st quarter worth approximately $30,000. Hazlett Burt & Watson Inc. raised its holdings 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 acquiring an additional 2,003 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Huntington Bancshares in the first quarter worth $40,000. Finally, ORG Partners LLC boosted its holdings in Huntington Bancshares by 354.9% in the second quarter. ORG Partners LLC now owns 3,325 shares of the bank’s stock valued at $44,000 after acquiring an additional 2,594 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In related news, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now owns 11,111 shares of the company’s stock, valued at $167,331.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the transaction, the vice president now owns 11,111 shares in the company, valued at $167,331.66. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock worth $1,762,904 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBAN. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Friday, July 26th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, September 2nd. Baird R W downgraded Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Evercore ISI lowered their target price on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Morgan Stanley upped their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.59.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $14.56 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The business’s fifty day moving average is $14.39 and its 200 day moving average is $13.76. The company has a market capitalization of $21.15 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. Huntington Bancshares Incorporated has a fifty-two week low of $9.25 and a fifty-two week high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the business posted $0.35 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.19 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.26%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

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.