Bahl & Gaynor Inc. Reduces Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Bahl & Gaynor Inc. lessened its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 48.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 429,273 shares of the bank’s stock after selling 399,226 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Huntington Bancshares were worth $5,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of Huntington Bancshares by 208.2% during the 3rd quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock valued at $753,000 after purchasing an additional 48,913 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Huntington Bancshares by 5.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 252,970 shares of the bank’s stock worth $2,631,000 after acquiring an additional 14,146 shares in the last quarter. Caprock Group LLC lifted its stake in shares of Huntington Bancshares by 51.0% in the 3rd quarter. Caprock Group LLC now owns 25,311 shares of the bank’s stock valued at $268,000 after purchasing an additional 8,550 shares during the period. Czech National Bank boosted its position in shares of Huntington Bancshares by 48.1% during the third quarter. Czech National Bank now owns 253,060 shares of the bank’s stock valued at $2,632,000 after purchasing an additional 82,165 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in Huntington Bancshares by 3.8% in the third quarter. Golden State Equity Partners now owns 36,821 shares of the bank’s stock worth $383,000 after purchasing an additional 1,365 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded down $0.03 on Friday, reaching $13.55. The stock had a trading volume of 12,209,141 shares, compared to its average volume of 17,717,398. Huntington Bancshares Incorporated has a 1 year low of $9.13 and a 1 year high of $14.07. The company has a 50 day simple moving average of $13.36 and a 200 day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $19.62 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 2.53 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.22 EPS for the current year.

Huntington Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 annualized dividend and a yield of 4.58%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In related news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the transaction, the insider now directly owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders have sold 198,189 shares of company stock valued at $2,664,978 over the last quarter. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on HBAN. Evercore ISI raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. UBS Group upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.50 in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

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.