Huntington Bancshares Incorporated (NASDAQ:HBAN) Shares Sold by Equity Investment Corp

Equity Investment Corp reduced its holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,457 shares of the bank’s stock after selling 1,398 shares during the quarter. Equity Investment Corp’s holdings in Huntington Bancshares were worth $168,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in Huntington Bancshares by 200.7% during the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after purchasing an additional 1,202 shares in the last quarter. Peoples Bank KS bought a new position in Huntington Bancshares during the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. boosted its stake 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 purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares during the 3rd quarter valued at $31,000. Finally, Fortitude Family Office LLC bought a new position in Huntington Bancshares during the 3rd quarter valued at $32,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the sale, the vice president now directly owns 496,076 shares in the company, valued at approximately $8,765,662.92. This represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Evercore ISI raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. DA Davidson raised their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Huntington Bancshares in a report on Friday, October 18th. Finally, Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $17.69 on Monday. Huntington Bancshares Incorporated has a fifty-two week low of $10.73 and a fifty-two week high of $17.97. The stock’s 50-day moving average is $15.38 and its two-hundred day moving average is $14.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market cap of $25.70 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.36 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.21 earnings per share for the current fiscal year.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s dividend payout ratio is currently 59.62%.

About Huntington Bancshares

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.