Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Trimmed by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 23.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,671 shares of the bank’s stock after selling 4,729 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Huntington Bancshares were worth $255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HBAN. Intech Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter valued at approximately $426,000. Pacer Advisors Inc. increased its holdings in shares of Huntington Bancshares by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 103,822 shares of the bank’s stock worth $1,368,000 after acquiring an additional 4,541 shares during the period. Sei Investments Co. grew its position in Huntington Bancshares by 6.3% in the 2nd quarter. Sei Investments Co. now owns 635,013 shares of the bank’s stock worth $8,369,000 after purchasing an additional 37,816 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of Huntington Bancshares by 6,481.1% in the second quarter. Frank Rimerman Advisors LLC now owns 15,005 shares of the bank’s stock valued at $198,000 after purchasing an additional 14,777 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Huntington Bancshares by 7.9% in the second quarter. Public Sector Pension Investment Board now owns 245,738 shares of the bank’s stock valued at $3,239,000 after purchasing an additional 17,931 shares during the period. 80.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HBAN has been the subject of a number of recent analyst reports. Piper Sandler decreased their price objective on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating for the company in a report on Tuesday. Citigroup boosted their price target on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods raised 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. Stephens reaffirmed an “equal weight” rating and issued a $18.50 price objective on shares of Huntington Bancshares in a report on Tuesday. Finally, Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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 approximately $8,765,662.92. This represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the firm’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 sale, the chief financial officer now owns 259,943 shares of the company’s stock, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $16.90 on Friday. The stock’s fifty day simple moving average is $17.01 and its 200 day simple moving average is $15.56. The stock has a market capitalization of $24.55 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.43 and a beta of 1.07. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%. During the same period in the previous year, the company posted $0.27 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.37 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.67%. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

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.