Lincoln National Corp cut its position in shares of Huntington Bancshares (NASDAQ:HBAN) by 39.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,896 shares of the bank’s stock after selling 8,954 shares during the quarter. Lincoln National Corp’s holdings in Huntington Bancshares were worth $210,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Huntington Bancshares by 73.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 226,508 shares of the bank’s stock worth $3,420,000 after buying an additional 95,671 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Huntington Bancshares by 33.7% during the first quarter. Envestnet Asset Management Inc. now owns 196,941 shares of the bank’s stock worth $2,972,000 after buying an additional 49,653 shares during the period. Korea Investment CORP increased its position in shares of Huntington Bancshares by 10.9% during the first quarter. Korea Investment CORP now owns 149,779 shares of the bank’s stock worth $2,262,000 after buying an additional 14,710 shares during the period. Rothschild Asset Management Inc. increased its position in shares of Huntington Bancshares by 6.7% during the first quarter. Rothschild Asset Management Inc. now owns 4,375,809 shares of the bank’s stock worth $66,075,000 after buying an additional 273,059 shares during the period. Finally, ClariVest Asset Management LLC increased its position in shares of Huntington Bancshares by 13.6% during the first quarter. ClariVest Asset Management LLC now owns 35,900 shares of the bank’s stock worth $542,000 after buying an additional 4,300 shares during the period. Institutional investors own 75.26% of the company’s stock.
In other Huntington Bancshares news, Director David L. Porteous sold 62,000 shares of the firm’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $15.06, for a total value of $933,720.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel J. Neumeyer sold 25,178 shares of the firm’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $15.13, for a total transaction of $380,943.14. The disclosure for this sale can be found here. Insiders sold 117,387 shares of company stock worth $1,774,808 over the last ninety days. Insiders own 1.05% of the company’s stock.
Several research firms have recently weighed in on HBAN. BidaskClub cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday. Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Friday, February 9th. Zacks Investment Research cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. ValuEngine cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, UBS began coverage on shares of Huntington Bancshares in a research report on Wednesday, March 21st. They set a “buy” rating and a $20.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Huntington Bancshares has an average rating of “Buy” and a consensus price target of $16.98.
NASDAQ:HBAN opened at $15.10 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.06 and a beta of 1.34. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $16.60.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Tuesday, April 24th. The bank reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. research analysts anticipate that Huntington Bancshares will post 1.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Monday, June 18th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, June 15th. Huntington Bancshares’s dividend payout ratio (DPR) is 44.90%.
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's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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