Cadence Bank Sells 2,727 Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN)

Cadence Bank lessened its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,050 shares of the bank’s stock after selling 2,727 shares during the period. Cadence Bank’s holdings in Huntington Bancshares were worth $266,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares during the 1st quarter worth $29,000. YHB Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the 1st quarter worth $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth $29,000. Nemes Rush Group LLC grew its holdings in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after acquiring an additional 1,391 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in Huntington Bancshares during the 4th quarter worth $33,000. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total value of $86,090.06. Following the transaction, the insider now directly owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Huntington Bancshares news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the transaction, the insider now owns 65,899 shares in the company, valued at approximately $987,167.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief financial officer now owns 265,809 shares in the company, valued at approximately $4,021,690.17. The disclosure for this sale can be found here. Insiders have sold a total of 158,165 shares of company stock valued at $2,301,069 in the last three months. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on HBAN. Keefe, Bruyette & Woods decreased their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Evercore ISI decreased their price target on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Morgan Stanley boosted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday. Citigroup boosted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.47.

Huntington Bancshares Stock Performance

Shares of HBAN stock traded up $0.07 on Friday, reaching $15.13. The stock had a trading volume of 17,411,275 shares, compared to its average volume of 17,530,092. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average is $13.45 and its two-hundred day moving average is $13.31. The firm has a market capitalization of $21.93 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 3.05 and a beta of 1.06. Huntington Bancshares Incorporated has a 12 month low of $9.25 and a 12 month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, July 19th. The bank reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the firm earned $0.35 EPS. On average, research analysts expect that Huntington Bancshares Incorporated will post 1.19 EPS for the current fiscal year.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.10%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Huntington Bancshares Company 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.