First Merchants Corp lowered its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 67.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 49,805 shares of the bank’s stock after selling 101,506 shares during the period. First Merchants Corp’s holdings in Huntington Bancshares were worth $594,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in HBAN. We Are One Seven LLC bought a new stake in Huntington Bancshares in the 4th quarter valued at about $29,000. Moody National Bank Trust Division boosted its holdings in Huntington Bancshares by 43.8% in the 4th quarter. Moody National Bank Trust Division now owns 4,191 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,276 shares during the period. Bedel Financial Consulting Inc. boosted its holdings in Huntington Bancshares by 371.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,312 shares of the bank’s stock valued at $63,000 after purchasing an additional 4,186 shares during the period. Columbia Asset Management bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $103,000. Finally, NuWave Investment Management LLC boosted its holdings in Huntington Bancshares by 5,991.8% in the 3rd quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock valued at $133,000 after purchasing an additional 8,748 shares during the period. Institutional investors and hedge funds own 76.61% of the company’s stock.
HBAN has been the subject of a number of recent research reports. Raymond James cut their price objective on shares of Huntington Bancshares from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Vining Sparks reissued a “buy” rating and issued a $19.00 price objective on shares of Huntington Bancshares in a report on Tuesday, October 9th. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, October 4th. ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Finally, Sandler O’Neill downgraded shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Thursday, November 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Huntington Bancshares has a consensus rating of “Hold” and an average target price of $16.57.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 24th. The bank reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). Huntington Bancshares had a return on equity of 13.93% and a net margin of 26.43%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company posted $0.26 EPS. On average, research analysts forecast that Huntington Bancshares Incorporated will post 1.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, March 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.67%.
In related news, EVP Mark E. Thompson sold 18,510 shares of the stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $13.49, for a total value of $249,699.90. Following the completion of the transaction, the executive vice president now owns 667,175 shares of the company’s stock, valued at approximately $9,000,190.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 42,608 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $14.66, for a total transaction of $624,633.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,938 shares of company stock valued at $944,368. 1.05% of the stock is currently owned by insiders.
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About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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