Vestmark Advisory Solutions Inc. Sells 116,227 Shares of Huntington Bancshares Incorporated $HBAN

Vestmark Advisory Solutions Inc. reduced its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 89.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,884 shares of the bank’s stock after selling 116,227 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Huntington Bancshares were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in Huntington Bancshares in the 2nd quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Huntington Bancshares in the third quarter valued at $31,000. First Horizon Corp bought a new stake in Huntington Bancshares in the third quarter worth $36,000. Root Financial Partners LLC purchased a new stake in Huntington Bancshares during the third quarter valued at $44,000. Finally, Financial Consulate Inc. bought a new position in Huntington Bancshares during the third quarter valued at $51,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity

In related news, Director Gary Torgow bought 14,200 shares of Huntington Bancshares stock in a transaction dated Thursday, February 19th. The shares were acquired at an average cost of $17.81 per share, with a total value of $252,902.00. Following the completion of the transaction, the director owned 943,341 shares in the company, valued at $16,800,903.21. The trade was a 1.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Amit Dhingra sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the completion of the sale, the insider owned 155,634 shares of the company’s stock, valued at $2,879,229. The trade was a 6.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,145 shares of company stock valued at $929,885. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

HBAN has been the topic of a number of research reports. UBS Group set a $21.00 target price on shares of Huntington Bancshares in a report on Wednesday, February 4th. Evercore started coverage on Huntington Bancshares in a research note on Tuesday, February 3rd. They set an “outperform” rating and a $21.00 price objective on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Wednesday, January 7th. JPMorgan Chase & Co. lifted their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Finally, Wall Street Zen lowered Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Huntington Bancshares Stock Down 4.2%

Shares of NASDAQ:HBAN opened at $16.80 on Friday. The firm has a market capitalization of $34.10 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. The business has a 50 day simple moving average of $17.81 and a two-hundred day simple moving average of $17.08. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.92.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share (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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts predict that Huntington Bancshares Incorporated will post 1.39 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

About Huntington Bancshares

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.