Wellington Management Group LLP Cuts Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Wellington Management Group LLP reduced its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,390 shares of the bank’s stock after selling 2,215 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of Huntington Bancshares worth $14,941,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Huntington Bancshares by 26.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,649 shares of the bank’s stock worth $1,761,000 after acquiring an additional 28,174 shares in the last quarter. 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 worth $44,000 after purchasing an additional 2,594 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Huntington Bancshares by 1.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 54,287 shares of the bank’s stock worth $716,000 after purchasing an additional 814 shares in the last quarter. Blue Trust Inc. grew its stake in Huntington Bancshares by 40.6% during the 2nd quarter. Blue Trust Inc. now owns 11,822 shares of the bank’s stock worth $165,000 after buying an additional 3,415 shares during the last quarter. Finally, Gradient Investments LLC increased its position in Huntington Bancshares by 237.7% during the 2nd quarter. Gradient Investments LLC now owns 17,360 shares of the bank’s stock valued at $229,000 after buying an additional 12,220 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays lifted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.41.

Huntington Bancshares Price Performance

HBAN stock opened at $17.17 on Friday. Huntington Bancshares Incorporated has a one year low of $12.02 and a one year high of $18.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The firm’s fifty day moving average is $16.65 and its 200 day moving average is $14.85. The firm has a market cap of $24.94 billion, a PE ratio of 16.51, a P/E/G ratio of 3.47 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 EPS 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 10.72% and a net margin of 14.19%. During the same period last year, the firm earned $0.36 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.21 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. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock worth $757,356 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

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.