CNB Bank Cuts Stock Position in Huntington Bancshares Incorporated (NASDAQ:HBAN)

CNB Bank lowered its position in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,288 shares of the bank’s stock after selling 3,655 shares during the period. CNB Bank’s holdings in Huntington Bancshares were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Asset Dedication LLC grew its holdings in shares of Huntington Bancshares by 200.7% in 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 period. Peoples Bank KS purchased a new stake in Huntington Bancshares during the third quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares in the third quarter valued at $31,000. Fortitude Family Office LLC acquired a new position in shares of Huntington Bancshares during the 3rd quarter worth $32,000. Finally, UMB Bank n.a. boosted its position in shares of Huntington Bancshares by 19.1% in the 3rd quarter. UMB Bank n.a. now owns 4,545 shares of the bank’s stock worth $67,000 after buying an additional 728 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent research reports. Barclays raised their target price on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Citigroup raised their price objective on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. DA Davidson upped their target price on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their price target on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.76.

Insider Buying and Selling at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,699 shares of company stock valued at $757,356. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $17.04 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 2.51 and a beta of 1.07. Huntington Bancshares Incorporated has a 1 year low of $12.02 and a 1 year high of $18.44. The firm has a 50 day moving average price of $17.07 and a 200 day moving average price of $15.43.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Sell-side analysts predict that Huntington Bancshares Incorporated will post 1.22 earnings per share for the current year.

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.