MAI Capital Management Reduces Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

MAI Capital Management trimmed its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,854 shares of the bank’s stock after selling 1,200 shares during the period. MAI Capital Management’s holdings in Huntington Bancshares were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in HBAN. Asset Dedication LLC raised its stake in shares of Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS purchased a new position in Huntington Bancshares during the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. increased its position 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 buying an additional 2,003 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Huntington Bancshares in the third quarter worth about $31,000. Finally, Fortitude Family Office LLC bought a new position in shares of Huntington Bancshares in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HBAN shares. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Evercore ISI lifted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Piper Sandler raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.26.

Huntington Bancshares Stock Up 1.2 %

Shares of NASDAQ:HBAN opened at $17.69 on Friday. Huntington Bancshares Incorporated has a 12-month low of $10.73 and a 12-month high of $17.97. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average price is $15.65 and its 200-day moving average price is $14.43. The stock has a market capitalization of $25.69 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, equities analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,699 shares of company stock worth $757,356. 0.89% of the stock is currently owned by company insiders.

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.