Huntington Bancshares Incorporated $HBAN Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC cut its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,108,794 shares of the bank’s stock after selling 64,633 shares during the period. Rafferty Asset Management LLC owned about 0.08% of Huntington Bancshares worth $19,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HBAN. MTM Investment Management LLC purchased a new position in Huntington Bancshares in the second quarter valued at about $25,000. Accredited Wealth Management LLC raised its position in shares of Huntington Bancshares by 374.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock valued at $29,000 after purchasing an additional 1,322 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $31,000. AlphaCore Capital LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at approximately $33,000. Finally, First Horizon Corp acquired a new stake in shares of Huntington Bancshares during the third quarter worth approximately $36,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $18.50, for a total transaction of $185,000.00. Following the completion of the transaction, the insider directly owned 155,634 shares in the company, valued at approximately $2,879,229. The trade was a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 17,455 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $18.93, for a total value of $330,423.15. Following the completion of the transaction, the vice president directly owned 42,398 shares of the company’s stock, valued at $802,594.14. This trade represents a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 50,145 shares of company stock worth $929,885. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Monday, January 12th. Barclays upped their target price on shares of Huntington Bancshares from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Argus boosted their price objective on Huntington Bancshares from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Wolfe Research restated an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.60.

Huntington Bancshares Trading Down 4.2%

Shares of NASDAQ HBAN opened at $16.80 on Friday. The company has a market cap of $34.10 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $19.45. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $17.81 and its 200 day simple moving average is $17.08.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.