Summit Trail Advisors LLC Lowers Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Summit Trail Advisors LLC reduced its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 10.6% during the 4th quarter, HoldingsChannel reports. The firm owned 14,621 shares of the bank’s stock after selling 1,734 shares during the period. Summit Trail Advisors LLC’s holdings in Huntington Bancshares were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HBAN. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after purchasing an additional 1,209,264 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Huntington Bancshares by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock valued at $468,725,000 after acquiring an additional 245,025 shares during the period. Boston Partners raised its position in shares of Huntington Bancshares by 33.0% in the 3rd quarter. Boston Partners now owns 29,277,030 shares of the bank’s stock worth $304,439,000 after acquiring an additional 7,271,405 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Huntington Bancshares by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock worth $186,421,000 after acquiring an additional 3,438,552 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Huntington Bancshares by 5.5% during the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank’s stock worth $148,449,000 after purchasing an additional 744,443 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Stock Up 1.4 %

Shares of NASDAQ HBAN opened at $14.05 on Thursday. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. The company’s 50-day simple moving average is $13.50 and its 200-day simple moving average is $12.48. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares Incorporated has a 52-week low of $9.13 and a 52-week high of $14.08.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted $0.38 EPS. Equities analysts predict that Huntington Bancshares Incorporated will post 1.21 EPS for the current fiscal year.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Wall Street Analyst Weigh In

HBAN has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Citigroup lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Insider Activity at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kendall A. Kowalski sold 15,948 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $13.47, for a total transaction of $214,819.56. Following the completion of the transaction, the insider now owns 21,102 shares of the company’s stock, valued at approximately $284,243.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 224,092 shares of company stock valued at $3,031,731. 0.92% of the stock is owned by insiders.

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.