Wealthfront Advisers LLC Sells 42,322 Shares of Huntington Bancshares Incorporated $HBAN

Wealthfront Advisers LLC cut its position in shares of Huntington Bancshares Incorporated (NASDAQ:HBAN) by 6.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 583,598 shares of the bank’s stock after selling 42,322 shares during the quarter. Wealthfront Advisers LLC’s holdings in Huntington Bancshares were worth $10,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MTM Investment Management LLC acquired a new position in Huntington Bancshares during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Huntington Bancshares in the second quarter worth $30,000. Grey Fox Wealth Advisors LLC acquired a new position in Huntington Bancshares during the third quarter worth $31,000. First Horizon Corp bought a new position in Huntington Bancshares in the third quarter valued at $36,000. Finally, Root Financial Partners LLC acquired a new stake in Huntington Bancshares in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

Insider Activity

In other news, insider Helga Houston sold 64,587 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $15.38, for a total transaction of $993,348.06. Following the completion of the sale, the insider owned 534,640 shares in the company, valued at $8,222,763.20. The trade was a 10.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $17.80, for a total value of $44,161.80. Following the transaction, the insider owned 71,566 shares in the company, valued at approximately $1,273,874.80. This trade represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 103,693 shares of company stock valued at $1,693,220. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

HBAN has been the subject of several analyst reports. TD Cowen raised their price objective on Huntington Bancshares from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Huntington Bancshares in a research report on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price target on shares of Huntington Bancshares in a research note on Monday, January 12th. Jefferies Financial Group upped their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Keefe, Bruyette & Woods cut their price objective on Huntington Bancshares from $20.00 to $19.50 and set a “market perform” rating for the company in a report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Huntington Bancshares Price Performance

NASDAQ:HBAN opened at $17.94 on Thursday. Huntington Bancshares Incorporated has a 12-month low of $11.91 and a 12-month high of $19.45. The firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 0.75 and a beta of 0.96. The stock’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $16.99. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.80.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, January 22nd. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). Huntington Bancshares had a return on equity of 11.98% and a net margin of 17.71%.The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Huntington Bancshares Incorporated will post 1.39 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.155 per share. The ex-dividend date is Wednesday, March 18th. This represents a $0.62 annualized dividend and a yield of 3.5%. Huntington Bancshares’s dividend payout ratio (DPR) is 44.60%.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.