Raymond James & Associates Sells 649,669 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Raymond James & Associates decreased its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 9.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,976,946 shares of the bank’s stock after selling 649,669 shares during the quarter. Raymond James & Associates owned approximately 0.41% of Huntington Bancshares worth $87,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HBAN. Lazard Asset Management LLC grew its position in Huntington Bancshares by 251,152.2% in the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after acquiring an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Huntington Bancshares by 53.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after acquiring an additional 564,729 shares during the period. Heritage Wealth Management Inc. purchased a new position in shares of Huntington Bancshares during the 2nd quarter worth about $744,000. Silverleafe Capital Partners LLC purchased a new stake in Huntington Bancshares in the 1st quarter worth about $1,171,000. Finally, SG Americas Securities LLC lifted its stake in Huntington Bancshares by 531.0% in the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after purchasing an additional 968,331 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insiders Place Their Bets

In related news, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the sale, the insider now directly owns 618,832 shares in the company, valued at $9,294,856.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the sale, the insider now directly owns 618,832 shares of the company’s stock, valued at approximately $9,294,856.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,622 shares of company stock valued at $1,762,904. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the topic of a number of recent research reports. Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Evercore ISI cut their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler upped their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday. Argus lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.91.

Huntington Bancshares Trading Down 0.5 %

Shares of Huntington Bancshares stock opened at $15.36 on Monday. Huntington Bancshares Incorporated has a 52-week low of $9.25 and a 52-week high of $16.03. The firm has a market capitalization of $22.26 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The company’s fifty day moving average price is $14.56 and its two-hundred day moving average price is $13.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the business posted $0.36 earnings per share. On average, analysts expect that Huntington Bancshares Incorporated will post 1.18 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 4.04%. Huntington Bancshares’s payout ratio is presently 55.86%.

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.