Raleigh Capital Management Inc. Sells 16,703 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Raleigh Capital Management Inc. lessened its stake in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,036 shares of the bank’s stock after selling 16,703 shares during the period. Raleigh Capital Management Inc.’s holdings in Huntington Bancshares were worth $1,400,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Asset Dedication LLC raised its position in shares of Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Peoples Bank KS purchased a new position in Huntington Bancshares in the third quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares in the third quarter worth approximately $31,000. Fortitude Family Office LLC purchased a new stake in shares of Huntington Bancshares during the third quarter valued at approximately $32,000. Finally, UMB Bank n.a. increased its position in shares of Huntington Bancshares by 19.1% during the third quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

HBAN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Citigroup raised their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Barclays boosted their price objective on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Evercore ISI boosted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Trading Down 1.4 %

Shares of HBAN stock opened at $16.86 on Thursday. The company’s 50-day moving average price is $17.02 and its 200-day moving average price is $15.55. Huntington Bancshares Incorporated has a twelve month low of $12.05 and a twelve month high of $18.44. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.43 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities analysts predict that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Insider Activity at Huntington Bancshares

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated 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 directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

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.