Huntington Bancshares Incorporated (NASDAQ:HBAN) Position Reduced by Palouse Capital Management Inc.

Palouse Capital Management Inc. trimmed its holdings in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 270,629 shares of the bank’s stock after selling 10,425 shares during the period. Huntington Bancshares comprises about 2.5% of Palouse Capital Management Inc.’s portfolio, making the stock its 10th largest holding. Palouse Capital Management Inc.’s holdings in Huntington Bancshares were worth $3,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HBAN. Asset Dedication LLC grew its position in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth $29,000. Peoples Bank KS bought a new stake in Huntington Bancshares during the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. boosted its position in Huntington Bancshares by 695.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after buying an additional 2,003 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in Huntington Bancshares in the 1st quarter worth $40,000. 80.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HBAN. Bank of America upped their price target on Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group decreased their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research report on Friday, July 26th. Finally, Evercore ISI decreased their target price on Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.03.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at $4,021,690.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief financial officer now owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the transaction, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,622 shares of company stock worth $1,762,904. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Stock Down 0.3 %

Shares of HBAN traded down $0.05 on Monday, hitting $15.31. 8,198,904 shares of the stock traded hands, compared to its average volume of 16,212,105. The company has a market capitalization of $22.19 billion, a PE ratio of 13.73, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares Incorporated has a one year low of $9.25 and a one year high of $16.03. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The business has a 50 day simple moving average of $14.56 and a 200 day simple moving average of $13.93.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, equities analysts forecast that Huntington Bancshares Incorporated will post 1.18 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 4.05%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Huntington Bancshares Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.