Harvest Portfolios Group Inc. Cuts Stake in Huntington Bancshares Incorporated (NASDAQ:HBAN)

by · The Markets Daily

Harvest Portfolios Group Inc. trimmed its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN – Free Report) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 414,248 shares of the bank’s stock after selling 6,090 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Huntington Bancshares were worth $6,089,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norden Group LLC purchased a new position in shares of Huntington Bancshares in the 1st quarter worth $551,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Huntington Bancshares by 48.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 749,090 shares of the bank’s stock valued at $10,061,000 after purchasing an additional 244,400 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth about $88,000. Daiwa Securities Group Inc. increased its position in Huntington Bancshares by 7.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 143,312 shares of the bank’s stock worth $1,999,000 after purchasing an additional 9,564 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Huntington Bancshares by 49.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,094 shares of the bank’s stock valued at $992,000 after buying an additional 23,438 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Transactions at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the transaction, the insider now owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Trading Up 7.7 %

Shares of NASDAQ HBAN opened at $16.74 on Wednesday. The company has a market cap of $24.32 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03. The stock’s 50 day simple moving average is $14.93 and its 200 day simple moving average is $14.11. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Huntington Bancshares Incorporated has a 12-month low of $10.10 and a 12-month high of $16.74.

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts expect that Huntington Bancshares Incorporated will post 1.2 EPS for the current year.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 3.70%. Huntington Bancshares’s dividend payout ratio is presently 59.62%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Citigroup boosted their price target on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.09.

Read Our Latest Stock Analysis on HBAN

Huntington Bancshares Company Profile

(Free Report)

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.

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