Maltese Capital Management LLC Decreases Position in Huntington Bancshares Incorporated $HBAN

Maltese Capital Management LLC decreased its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 26.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,000 shares of the bank’s stock after selling 60,000 shares during the period. Maltese Capital Management LLC’s holdings in Huntington Bancshares were worth $2,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large 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 $25,000. South Plains Financial Inc. increased its holdings in Huntington Bancshares by 116.3% during the 3rd quarter. South Plains Financial Inc. now owns 1,536 shares of the bank’s stock worth $27,000 after purchasing an additional 826 shares during the period. Accredited Wealth Management LLC increased its holdings in Huntington Bancshares by 374.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,675 shares of the bank’s stock worth $29,000 after purchasing an additional 1,322 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $31,000. Finally, AlphaCore Capital LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods cut their target price on shares of Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating on the stock in a research note on Friday, January 23rd. Zacks Research cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. DA Davidson decreased their price target on shares of Huntington Bancshares from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday. Finally, Morgan Stanley increased their price objective on shares of Huntington Bancshares from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $20.63.

Huntington Bancshares Trading Up 0.5%

NASDAQ:HBAN opened at $15.28 on Tuesday. Huntington Bancshares Incorporated has a 1 year low of $11.91 and a 1 year high of $19.45. The stock has a market cap of $31.13 billion, a P/E ratio of 10.99, a P/E/G ratio of 0.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a 50-day simple moving average of $17.47 and a 200-day simple moving average of $17.01.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 22nd. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently disclosed 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 4.1%. The ex-dividend date is Wednesday, March 18th. Huntington Bancshares’s payout ratio is currently 44.60%.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 65,530 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $15.28, for a total value of $1,001,298.40. Following the completion of the sale, the vice president directly owned 481,676 shares of the company’s stock, valued at $7,360,009.28. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Torgow acquired 14,200 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was bought at an average price of $17.81 per share, with a total value of $252,902.00. Following the purchase, the director directly owned 943,341 shares of the company’s stock, valued at $16,800,903.21. This represents a 1.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 27,700 shares of company stock worth $540,401 and have sold 108,986 shares worth $1,785,958. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Company 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.