Procyon Advisors LLC Reduces Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Procyon Advisors LLC trimmed its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,835 shares of the bank’s stock after selling 1,736 shares during the quarter. Procyon Advisors LLC’s holdings in Huntington Bancshares were worth $438,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $1,041,000. Exchange Traded Concepts LLC increased its position in shares of Huntington Bancshares by 6,617.1% during the third quarter. Exchange Traded Concepts LLC now owns 253,303 shares of the bank’s stock worth $3,724,000 after purchasing an additional 249,532 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Huntington Bancshares by 668.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,600 shares of the bank’s stock worth $215,000 after purchasing an additional 12,700 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Huntington Bancshares during the third quarter worth approximately $487,000. Finally, Tobam increased its position in shares of Huntington Bancshares by 34.1% during the third quarter. Tobam now owns 7,386 shares of the bank’s stock worth $109,000 after purchasing an additional 1,880 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the transaction, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. The trade was a 0.00 % decrease in their position. 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 quarter. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HBAN has been the topic of a number of recent research reports. Morgan Stanley boosted their price objective on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods lowered their price objective on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. StockNews.com lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, September 2nd. Evercore ISI lowered their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

Huntington Bancshares Price Performance

HBAN stock opened at $15.59 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 company has a market capitalization of $22.59 billion, a PE ratio of 14.05, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a 12-month low of $9.25 and a 12-month high of $16.03. The business’s fifty day moving average price is $14.44 and its 200 day moving average price is $13.90.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $0.35 EPS. On average, sell-side analysts anticipate that Huntington Bancshares Incorporated will post 1.18 EPS for the current year.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.155 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 3.98%. Huntington Bancshares’s dividend payout ratio (DPR) is 55.86%.

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.